Clean energy project funding – The Inflation Reduction Act

The Inflation Reduction Act (IRA) is a federal legislation that was signed into law in August 2022. It includes billions of dollars of funding for school districts looking to complete eligible energy improvement projects such as purchasing electric vehicles, electric vehicle charging stations, and geothermal, thermal, and solar energy storage.

The IRA is a 10-year legislation; however, some tax credits for certain types of energy projects expire sooner than the 10-year time frame.

Does your school district know what IRA opportunities are waiting to be unlocked?

Baker Tilly school specialists, Jesse Nelson, CPA, and Matt Bubness co-authored an insightful article for the March 2024 School Business Affairs Magazine that has been reprinted with the permission of the Association of School Business Officials (ASBO). The article covers:

• Understanding IRA funding through direct pay tax credits for school district projects
• Step by step guide to the IRA project process
• Common projects for school districts, such as electric vehicles (EVs) and EV charging stations