The Inflation Reduction Act extended the federal credit to 2034 from 2024. Originally, the federal credit was scheduled to drop from 26% to 22% in 2023 and then no longer be available in 2024. The Inflation Reduction Act extended the credit by 10 years, which is great news for solar customers in Missouri.
Additionally, the legislation is providing increased incentives — in the form of credits to tax bills — for electric vehicles. The credit amount is up to $7,500. It also provides rebates and credits for energy efficiency upgrades, like installing energy-efficient appliances or solar water heaters.