Inflation Reduction Act strengthens communities nationwide

Two years ago, Congress approved the Inflation Reduction Act (IRA) aimed at fighting inflation and supporting clean energy deployment. Communities across the country have already experienced the benefits of this landmark legislation in action. 

Emission reduction projects 

The IRA invests billions in zero emissions clean energy including wind, solar, battery storage and nuclear projects. These projects do more than just improve air quality; they also create jobs and bring new opportunities to local areas. Energy companies like Alliant Energy use these funds to make clean energy more affordable for customers. In fact, we were able to reduce customer costs by almost $138 million when we built our 12 Wisconsin solar projects. 

In addition to the energy industry, companies like Kraft Heinz Corporation also have plans to use emission reduction funding provided by the IRA for industrial decarbonization projects across eight states, including Iowa. Their planned electrification, solar and battery storage projects will cut back on carbon emissions from manufacturing processes. 

Conservation projects 

Agricultural communities have also benefitted from conservation incentives in the IRA to make improvements to farmland. This can secure the financial well-being of farmers and directly increase the supply of quality, locally produced food.  

Multigenerational farmers in Minnesota and Virginia have used IRA grants to improve their farms’ soil health as erosion threatens crop viability and slows natural water irrigation across farmland. Organizations like the Natural Resources Conservation Service provide funding to farmers with help from IRA incentives to combat these challenges. 

Equity projects 

Another key part of the IRA makes sure communities who have been left behind in the past get a fair share of the benefits. It includes funding to reduce pollution, make communities more resilient to climate change and provide training in sustainable industries, especially in low-income communities of color.  

In Oregon, rural and low-income residents are set to increase solar adoption over the next five years as part of the state’s nearly $87 million Solar for All IRA grant. The rebates and community solar incentives within the grant make solar energy more accessible, reduce greenhouse gas emissions and create renewable energy jobs. 

In the two years since the IRA was signed, communities across the country have used funds to create jobs, transition to renewable energy and ensure investments reach the people who need them most. By addressing immediate climate needs and promoting economic growth, the benefits of the IRA will be felt for years to come.