November 2022
The Inflation Reduction Act (IRA) includes considerable expansions of existing tax credits in manufacturing and other areas, and it establishes several new tax credits. The credits offer incentives for the production and use of renewable energy. They include credits for clean energy production, sustainable building practices and the use of electric vehicles (EVs). Four tax credits in particular — including a new credit established by the IRA — should be of particular interest to manufacturing companies that produce equipment used in EVs and other “green” energy projects.
