It has been one year since the Biden administration's Inflation Reduction Act became law, and Pennsylvania is seeing and using some of the funding.
The groundbreaking law directs $370 billion to clean-energy efforts through tax incentives, grants and loan guarantees. The Keystone State has set a goal of using 100% clean energy by 2050, and the law is helping to make it a reality.
Annie Regan, campaign director for the environmental watchdog group PennFuture, said together, the Inflation Reduction Act and the Bipartisan Infrastructure Law have brought more than $300 million to Pennsylvania.
She pointed out a variety of projects are already benefiting from the funding.
"We also know the Inflation Reduction Act is lowering energy costs for families in Pennsylvania, with estimates ranging from $300 to $1,800 in annual savings," Regan observed. "Folks will notice -- within this year, in the next couple of years, especially -- that their energy bills will become lower and more affordable."
Regan added the funding has already added 64 electric school buses in seven school districts in the state, with more than $19 million in rebates. Republican opponents of the Inflation Reduction Act have cited concerns about the U.S. budget deficit and the effect on jobs in the oil and gas sector.
Source: publicnewsservice.org
Photo Credit: istock-shansekala
Categories: Pennsylvania, Business