Inflation Reduction Act 2024 Solar. On august 16, 2022, president biden signed the inflation reduction act (ira) into law, marking one of the largest investments in the american economy, energy security, and climate that. Last week, the national oceanic and atmospheric administration announced that it would invest $60 million from president biden’s inflation reduction act to advance climate.

The inflation reduction act modifies and extends the clean energy investment tax credit to provide up to a 30% credit for qualifying investments in wind, solar, energy storage,. The grant competition is funded by president biden’s investing in america agenda through the inflation reduction act, which created epa’s $27 billion greenhouse gas.