Alisha Vasquez, co-director of the Mexican American Heritage and History Museum
Lower-income households spend as much as three times more on energy costs than high-income households, with the energy burden disproportionately affecting African Americans and Latinos. But reducing energy costs through the adoption of clean energy also has been traditionally out of reach for these households. The Inflation Reduction Act’s expanded solar installation tax credits, however, allow families such as the Vasquezs to transition their homes to clean energy more easily.
My partner and I always wanted solar but didn't think we could afford it. When you have student loans and are a parent, it's one of those things that was considered a luxury item. So after we got a grant to cover half of the cost, installing solar was more manageable, and knowing we could get 26 percent back on the rest sweetened the deal. We were prepared for the tax credit to decrease to 22 percent in 2023 and were rushing to get our system installed. But once the Inflation Reduction Act passed, it was like the time crunch didn't matter, and the tax credit increased to 30 percent, which was great. This enabled us to go green, and this is a way for more equity to solar and who has access to it.
The Inflation Reduction Act advances energy equity by expanding access to clean energy tax credits and home improvement rebates. Not only will this hasten the country’s clean energy transition, but it will also ensure more Americans can benefit from it.
Read more about the benefits of the Inflation Reduction Act
Americans celebrate how the Inflation Reduction Act has benefited their lives in the year since its passage.