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Two States Are Ramping Up Clean Energy Incentives. That Was the Inflation Reduction Act’s Point
Colorado passed new laws offering state tax credits for adopting clean energy technologies to add to existing federal ones. Minnesota is set to pass similar legislation.
By Kristoffer Tigue
Two states are set to significantly ramp up the financial incentives to adopt renewable energy and electric vehicles under new laws that mimic federal clean energy tax credits provided under the Inflation Reduction Act. It’s a sign that the Democrats’ marquee climate law is doing what its authors intended: spur additional public and private investments to speed up the nation’s clean energy transition.
Related Knowledge Center: Climate legislation
State of Play
The federal government and states are in the process of implementing two laws — the Infrastructure Investment and Jobs Act and the Inflation Reduction Act — an investment of more than a trillion dollars to address climate change.