Website Provides Guidelines on Accessing Inflation Reduction Act Funds

By Better Today On Feb 18, 2024

TL/DR –

A coalition of organizations and volunteers has launched energyfundsforall.org to help residents of North and South Carolina access resources for home and community energy projects. The website was created in response to difficulties people faced accessing funds from the Inflation Reduction Act (IRA) passed in 2022. The site provides information and guides for a variety of demographics, including homeowners, renters, local and tribal governments, and businesses, educating them on how to harness the funds they are entitled to under the IRA for energy-related initiatives.

North and South Carolina Residents Support Energy Projects

A network of organizations and volunteers from across North and South Carolina have created energyfundsforall.org, a resource guide to help residents access support for home and community energy projects.

Since the Inflation Reduction Act (IRA) was passed in 2022, information about how to access funds has been released regularly. However, these links are not widely distributed, making the money hard to access. That’s where Energy Funds for All steps in.

“The idea for this toolkit came from curiosity and frustration surrounding the IRA. The IRA isn’t easy to understand, and it’s hard to find the information needed to get funding. We created a way to find what you need to achieve your goals,” said Jessica Finkel, interim coordinator for Thrive North Carolina and co-creator of the website.

The website categorizes information for homeowners, renters, landlords, nonprofits, local governments, tribal governments, and organizations engaged in workforce development. Website visitors can either click the section that refers to them or search for specific information.

IRA Provisions and Benefits

Some of the IRA provisions that can benefit Ocracoke and Hatteras islands include the Geos Institute setting up a Southeast Navigator Network to help communities on the FEMA map of Community Disaster Resilience Zones (CDRZs) access funding for climate disaster resilience. The navigator selected for NC is the NC Office of Recovery and Resiliency.

For all businesses: Tax credit of at least 30% for renewables, deduction for depreciation, significant tax credit for electric vehicles and for EV chargers installed in low-income or non-urban areas.

For rural businesses: The Rural Energy for America Program offers grants for up to 50% of the cost of solar, batteries, energy efficiency improvements, and more.

For homeowners and renters: The Weatherization Assistance Project provides free energy efficiency improvements to low-income households.

In late 2024 or early 2025, the NC State Energy Office will open up an IRA-funded program of rebates on energy efficiency improvements to your home. The Home Efficiency Rebates (HER) and Home Electrification and Appliance Rebates (HEAR) programs allocate over $208 million to North Carolina for energy efficiency rebates.

Also, residential solar and battery storage: 30% tax credit. One company for Ocracoke installations is Cape Fear Solar Systems in Wilmington, 910-409-5533.