President Joe Biden Signs Inflation Reduction Act. What Will Change for Microgrids?

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 for 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

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