![]() ![]() It helps that many of the benefits will be around for a decade or more, though not all of them are available just yet: Federal tax credits took effect on Jan. Taking advantage of the new law will require some planning, experts said, especially when it comes to major purchases and renovations. ![]() The law tackles two major sources of those emissions, transportation and housing, in part by helping Americans electrify their cars and homes, and by making the most energy efficient choices more affordable through tax credits and rebates. Those savings kicked in this year as part of the Inflation Reduction Act, major legislation that aims to cut planet-warming greenhouse gas emissions. Many American consumers are now eligible to save thousands of dollars when they buy an electric car, heat pump, solar panels or energy-efficient appliances. By Nadja Popovich and Elena Shao Updated May 1, 2023 ![]()
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