By Michelle Carter

Imagine a future where your monthly bills are lower, your energy is greener and you know exactly how much your energy bill will be when it is due. For us in North Carolina, that future is here and now.

Two years ago next week, the Inflation Reduction Act (IRA) was signed by President Biden to reduce inflation, fund climate projects and build a pathway to a more sustainable and equitable future.

Federal funding processes move slowly, but we are now seeing benefits flow to our homes, businesses and communities. However, there is still so much to be done to make sure North Carolina is prepared for the clean and affordable energy future we deserve. Over $3.5 billion in funding has been awarded to North Carolina from the IRA and the Bipartisan Infrastructure Law enacted in 2021.

The state will receive $1.4 billion in road, rail and transit funding, $800 million for electrification, $500 million for renewable energy and pollution reduction, $100 million for workforce development, and more.

With many grants yet to be awarded, this is just the beginning.

Much of this money has been awarded to the state and will be distributed to communities, businesses and households in the coming months. The state will offer low- to moderate-income households over $200 million in rebates covering part or all of the cost of new energy-efficient electric appliances, such as heat pumps, water heaters, clothes dryers, stoves and ovens. Furthermore, $156 million will be spent to allow low-income households to benefit from solar energy.

For North Carolinians at any income level, tax credits can reduce the cost of new clean energy projects. This includes installing solar panels and battery storage systems, purchasing electric vehicles and chargers, reducing energy leakage through home improvements, or upgrading heating and cooling equipment. Tax credits also cover 30 percent of the cost of community solar projects, with additional bonus credits of 20% for affordable housing properties and 10 percent for low-income communities.

All this and more is on the table — and we must take advantage of it.

We know North Carolinians support these policies and want to take advantage of them. Last year, a poll by North Carolina League of Conservation Voters Foundation showed strong support for the various policies in Biden’s affordable clean energy plan and accepting the federal funding to implement these policies. A more recent poll confirmed support for the transition for clean energy and showed North Carolina voters understand the benefits, including an overwhelming majority who see the positive impact to clean air and water (76 percent), the availability of good-paying jobs (63 percent) and North Carolina’s economy (61 percent). North Carolina voters almost universally agree on the importance of home weatherization (90 percent), which helps ensure protection from extreme weather and lower energy costs. To achieve this, voters also believe the government should provide incentives or financial assistance (89 percent) and mandate standards for new construction (79 percent).

Getting these funds into the pockets of community members will be challenging, but help is available.

In January, a group of North and South Carolina educational, environmental, labor and social justice organizations launched EnergyFundsforAll.org, a website that provides information on funding available for homeowners, renters, landlords, local governments, Tribes, businesses and more. The website links to a number of other organizations ready to provide assistance. More resources are becoming available every month to help Carolinians and others lower their energy bills and improve their quality of life.

As a co-creator of this website, I’ve seen how critical this money is for North Carolinians. I am also a renter who is planning to improve my insulation to use the Energy Efficient Home Improvement Tax Credit.

The Inflation Reduction Act represents a transformative opportunity for North Carolina, promising to bolster economic stability, foster environmental sustainability, and create a more equitable energy landscape. By the time the IRA’s third birthday rolls around, the benefits to North Carolinians will be even more obvious.