The Inflation Reduction Act (IRA) was signed into law on August 16, 2022.  The bill is 273 pages and is referred to as HR 5376.  Here is a link to the full bill.  It doesn't have a Table of Contents, is hard to read because it continually refers to other bills and is divided up by the various committees it allocates funds too, creating a complex maze of funding categories which appear to overlap, or have gaps, and is difficult to follow.  So, the simplest way to understand the IRA is to read the various summaries created by multiple sources.

Here are the best links we have found so far:
IRS Fact Sheet (released December 2022)
Solar Energy Industries Association
Holland & Knight LLP
RENEW Wisconsin
Solar Power World
Energy Impact Summary Chart
​The White House
U.S. Dept. of Energy

Summary from Congress.gov.  with access to full text, amendments, etc.

And a great podcast from renown NY Times' Ezra Klein titled, "The Single Best Guide to Decarbonization I've Heard", from Sept. 20, 2022.

CBR's list of the key components of the Inflation Reduction Act that will affect our local area:
  • Extends the Federal tax credit for direct-owned solar PV to 2032 and raises it to 30%.  Applies retroactively to all projects installed in 2022.
  • Offers a Direct Pay option (now being called Elective Pay) for nonprofits and municipalities, who otherwise couldn’t use the tax credit, also set at 30% and begins in 2023.
  • EV charging infrastructure will now also be eligible for the 30% tax credit starting in 2023
  • The USDA Rural Electrification of America Program (REAP) for farms and rural businesses will raise its grant program from 25% to 50%
  • Battery storage projects, either couple with Solar PV or stand-alone are now eligible for the 30% tax credit
  • Residential Clean Energy Property will get a 30% tax credit starting in 2023.  An annual cap applies and includes things like heat pumps, heat pump hot water heaters, biomass stoves and boilers and electrical upgrades needed to install clean energy projects.  Income levels determine eligibility.
  • Ground-sourced heat pumps or geothermal also qualify for the 30% tax credit and Direct Pay for nonprofits and municipalities.
  • Programs will be administered through the WI Office of Energy Innovation for improvements in home energy efficiency and electrification.  Programs will be income-contingent and come with rebate percentages and caps.  Both tax credits and upfront discounts will be available.  Details forthcoming.
  • Extension, expansion, and changes to electric vehicle tax credits, including a new credit for purchasing used EVs
This list was presented to the League of Women Voters at their Sept. 26, 2022, meeting.  The presentation PowerPoint can be viewed here and the associated text here.


In case you want to dive deeper, here is a CBR simplified Table of Contents of the IRA which may help you skip to the parts of interest to you:
Title 1 – Committee on Finance (pg.1)               
                 Subtitle A – Deficit Reduction
                                Part 1 Corporate Tax Reform
                                Pg 11 Part 2 – Excise Tax on Repurchase of Corporate Stock
                                Pg 14 Part 3 – Funding the Internal Revenue Service
                Subtitle B (pg. 16) – Prescription Drug Pricing Reform
                Subtitle C (pg. 88) – Affordable Care Act Subsidies
                Subtitle D (pg. 89) – Energy Security
                                Part 1 (pg. 89)– Clean Electricity and Reducing Carbon Emissions
                                                Of interest: Pg 104 Sec 13103 ITC increase for low-income
                                Part 2 (pg. 114) - Clean Fuels
                                Part 3 (pg. 124)– Clean Energy & Efficiency Incentives for Individuals
                                Part 4 (pg. 137) - Clean Vehicles
                                Part 5 (pg. 152) – Investment in Clean Energy Manufacturing and Energy Security
                                Part 6 (pg. 164) – Superfund
                                Part 7 (pg. 165) – Incentives for Clean Electricity and Clean Transportation
                                Part 8 (pg. 186) – Credit Monetization and Appropriations
                                Part 9 (pg. 196) - Other Provisions
Title II Committee on Agriculture, Nutrition, and Forestry (pg. 196)
                Subtitle B (pg. 198) – Conservation
                Subtitle C (pg. 201) – Rural Development and Agricultural Credit
                                REAP (pg. 202)
                                USDA (pg. 203) Assistance for rural Electric Cooperatives
                Subtitle D (pg. 206) – Forestry
Title III – Committee on Banking, Housing and Urban Affairs (pg. 210)
                Sec. 30002 Improving energy efficiency or water efficiency or climate resilience of affordable housing
Title IV – Committee on Commerce, Science, and Transportation (pg. 211)
Title V – Committee on Energy and Natural Resources (pg. 216)
                Subtitle A – Energy
                                Part 2 (pg. 216) – Residential Efficiency and Electrification Rebates
                                                 Sec 50122 (pg. 219) High-Efficiency Electric Home Rebate Program
                                Part 3 (pg. 224) – Building Efficiency and Resilience
                                Part 4 (pg. 225) – DOE Loan & Grant Programs
                                Part 5 (pg. 229) – Electric Transmission
                                Part 6 (pg. 232) – Industrial
                                Part 7 (pg. 233) - Other Energy Matters
                Subtitle B (pg. 235) – Natural Resources
                                Part 2 (pg. 235) – Public Lands
                                Part 3 (pg. 236) – Drought Response and Preparedness
                                Part 5 (pg. 237) – Offshore Wind
               Subtitle C (pg. 245) – Environmental Reviews
Title VI – Committee on Environment and Public Works (pg. 246)
                Subtitle A – Air Pollution
                Subtitle B (pg. 261) – Hazardous Materials
                Subtitle C (pg. 262) – U.S Fish and Wildlife Service
                Subtitle D (pg. 262) – Council on Environmental Quality
                Subtitle E (pg. 263) – Transportation and Infrastructure
Title VII – Committee on Homeland Security and Governmental Affairs (pg. 269)
​Title VIII – Committee on Indian Affairs (pg. 271)