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The New Climate Bill’s Secret Weapon? Tax Credits

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The Inflation Reduction Act would provide billions for Americans to modernize their homes. It’s a way to encourage mass climate action.
…if this bill passes: It includes 10 years of tax credits to install all kinds of clean residential technologies, from rooftop solar to heat pumps. (Climate nerds love electric heat pumps, which extract heat from outdoor air, then reverse in the summer to cool like an air conditioner.) The bill would provide $9 billion in rebates for low-income Americans to switch to electric appliances and retrofit their homes to be more energy efficient, and give people a $7,500 tax credit for buying a new electric vehicle.

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