Signed into law on August 16, 2022, the Inflation Reduction Act (IRA) is the most significant legislation in U.S. history to tackle the climate crisis and strengthen American energy security. It will lower energy costs for households and businesses, create manufacturing jobs for American workers, and deliver a clean, secure, and healthy future for our children and grandchildren. The savings, jobs, and other benefits provided by this legislation will reach communities across New Jersey.

The IRA includes more than two dozen tax provisions that will save families money on their energy bills and accelerate the deployment of clean energy, clean vehicles, clean buildings, and clean manufacturing. These supports will be delivered to New Jersey residents through a combination of grants, loans, rebates, incentives, and other investments.

The Governor’s Office of Climate Action and the Green Economy is working with state and local partners to maximize ratepayer cost savings and increase equity and opportunity into the clean energy workforce.