Microgrid Knowledge: On Tuesday, August 16, U.S. President Joe Biden signed the Inflation Reduction Act into law. The $430 billion bill is expected to bring many changes to the microgrid industry, including:
- Easier achievement of environmental, social, and corporate governance (ESG) goals
- Increased symbiosis between electrification and decentralization
- Market certainty
- Easier monetization of tax credits
- Greater microgrid diversity
- Worldwide market expansion
- Increased utilization of investment tax credits for solar and standalone storage
- Mainstreaming of microgrids