Explore More Energy Savings News in the Inflation Reduction Act

Posted by Livable Content Team on Oct 3, 2022 4:57:28 PM

Last month, we told you about the great investment incentive tax credits the Inflation Reduction Act offers investment owners of rental properties. Before the IRA was passed, those tax credits were only offered to homeowners who lived in the property they upgraded with solar, wind or other renewable energy. It's a huge new benefit for Housing Providers! But the IRA, the single largest government investment in clean energy, goes much further to promote the widespread use of renewable energy, electric vehicles and other tactics to conserve our natural resources. 

What else does the IRA include to lower your utility costs? 

In addition to making it more affordable for homeowners to add renewable energy to their properties, the IRA includes a $60 billion investment in the production of clean energy, with the goal of increased supply to ease the pressure of rising energy costs.

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About half of that amount is dedicated to the production of solar panels, wind turbines, batteries and more. Other spending is allocated for the facilities that make those clean energy products, heat pumps, mining the minerals needed for solar batteries and energy research. The hope is that these multi-pronged efforts to increase energy production in the US, combined with efforts to reduce consumption, will lower the rising costs of energy. 

If your real estate investments qualify as affordable housing, there may be even more programs you can take advantage of to upgrade appliances such as washers and dryers to be more energy efficient.  

What about electric vehicles? 

About $20 billion of spending in the IRA is focused on clean energy vehicles, including consumer tax credits to make EVs more affordable and encourage their adoption. How does that affect you as a Housing Provider?  For one thing, you may be able to get a tax credit for adding an EV charger to your rental property! And RUBS can help you recover the costs of your Residents using that charger so you're getting reimbursed, conserving energy and reducing pollution, all at the same time. 

Livable and the Independent Rental Owner

Whether or not you’re able to take advantage of the IRA's tax credits and investment opportunities, you can use Livable’s tools to reduce how much energy and water your tenants use and recover up to 90% of your utility costs. Our Ratio Utility Billing System allows you to fairly bill your residents for their share of utility use, including Wi-Fi, water and electricity (no matter its source). We also help you educate residents so they are inspired to conserve resources.

We understand that Independent Rental Owners are one of the largest investor groups in the US – and one of the most underserved. We’re here to change that. Come save with us!

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