Inflation Reduction Act (IRA)
Save 30-50% on Solar, Battery and Geothermal Energy Projects
the Inflation Reduction Act
On August 22, 2022, President Biden signed the Inflation Reduction Act (IRA) into law, the single largest investment in renewable energy in American history. The goal of the act is to spur further investment in renewable energy and to push forward the energy transition in the United States. To do this, the act extends some existing tax credits and creates others that result in savings between 30% and 50% on renewable energy projects like solar, battery storage, and geothermal projects.
What’s more is that the IRA, for the first time in history, opens the door for non-profits, school districts, local governments, and municipalities to take advantage of this innovative tax program by creating a process known as Direct Pay. Under this mechanism, organizations that would typically not qualify for tax rebates, because they don’t pay taxes, are able to claim a direct payment back from the government after energizing their project, by filing a tax return.
Key Benefits
– 30-50% rebate on solar, geothermal, and battery storage projects!
– Schools, municipalities, and non-profits are eligible!
– Not a grant, no competition!
LEARN MORE!
Download our Inflation Reduction Act explainer to learn more about the credits and bonus credits that are available to school districts, municipalities, local governments, and non-profits for the first time!
Solar
Veregy, as a premier decarbonization provider, is experienced and skilled in state-of-the-art panels with long life-cycle solar installations that can be placed on rooftops, carports, or any open areas around a facility. Once installed, and well maintained by Veregy’s talented service teams, solar has a lower cost of operation and is resilient in the fact of power disruptions.
Battery Storage
Veregy’s battery storage solutions provide a modern approach to demand response for facilities. Facilities are given the ability to shift load during peak periods and the ability to implement emergency response protocols. Outside of emergency response, the best value of our battery solutions is attained through charging when electricity is cheap and dissipating when electricity is expensive.
Geothermal
The Earth beneath our feet is more than just the ground we stand and build on, it is dynamic and an untapped source of power. At Veregy, we are experts in utilizing this energy source to solve the energy needs of our clients. Just a few feet below the ground the temperature is constant and predictable. By utilizing modern heat pump technology, we can harness that valuable resource and cut costs and help decarbonize your facilities.
Veregy Solar Projects
Solar
With the passage of the Inflation Reduction Act (IRA), solar as a long term investment is more appealing than ever. Not only will the panels pay for themselves over their rated life they will save on energy costs for years after as well offering both a cost effective and resilient approach to energy.
Veregy’s vast experience in facility solar projects gives us the expertise to integrate seamlessly with existing structures, ensuring minimal visual impact while maximizing energy production. With advancements in efficiency and the extension of government incentives, there has never been a better time to explore the benefits of solar energy. Embrace the power of the sun and join the renewable energy revolution today.
Battery Storage
Veregy has installed battery storage at facilities across the country both for resliance and to help offset costs. Battery storage not only allows you to store excess power generated through the day via solar but it can help to offset expense demand spikes. Even without solar attached stand alone battery storage, charged the the grid when power it cheap and used when rates goes up qualifies under the IRA.
As energy costs continue to rise and grid reliability becomes a growing concern, battery storage offers a smart solution for consumers and businesses alike. It enables a more controlled and efficient energy usage, ensuring power availability during outages and peak pricing periods. Moreover, when combined with renewable energy systems like solar panels, battery storage can create a self-sustaining power ecosystem that promotes sustainability and energy independence. Investing in battery storage is not just a step towards greener energy practices but also a strategic move to future-proof energy needs in an increasingly unpredictable world.
Geothermal
Geothermal heat pumps use the naturally existing ground heat energy for space heating, space cooling, and hot water heating. The technology takes advantage of the earth’s natural insulative properties. Below the ground’s surface, temperatures remain relatively constant throughout the year. Underground is warmer than the air above it during winter and cooler in the summer. A geothermal heat pump transfers heat stored in the earth into a building during the winter and transfers it out of the building and back into the ground in summer.
For any facility looking to decarbonize, reduce costs, and increase reliability a geothermal system installed by Veregy is the perfect solution. Combined with the IRA funds they are more affordable than ever making the return on investment on your Veregy designed and installed geothermal system and easy choice.
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