Breaking down the Inflation Reduction Act program by program, incentive by incentive
The Inflation Reduction Act is the biggest investment in clean energy and climate solutions in American history, so it can be hard to keep track of everything in it. This spreadsheet breaks down the funding opportunities in the bill in a way that allows a variety of users to easily find out which IRA programs and tax incentives can benefit them.
In particular, this spreadsheet was developed for use by:
- State and local/municipal governments
- Tribal Nations
- Institutions of higher education
- Individual consumers
Biden-Harris administration announces availability of Inflation Reduction Act funding for climate-smart agriculture nationwide
[Jargon alert, the article will explain more]
The IRA funding includes an additional $8.45 billion for EQIP, $4.95 billion for RCPP, $3.25 billion for CSP, and $1.4 billion for ACEP. The increased funding levels begin in fiscal year 2023 and rapidly build over four years. These additional investments are estimated to help hundreds of thousands of farmers and ranchers apply conservation to millions of acres of land.
Additionally, the IRA provides $300 million to quantify carbon sequestration and greenhouse gases (GHG) through the collection and use of field-based data to assess conservation outcomes. Information gained through this effort will be used to….
Partnerships for Climate-Smart Commodities Project summaries
This project proposes to accelerate long-term cover crop adoption by creating a platform to incentivize farmers. The platform will quantify, verify, and facilitate the sale of ecosystem benefits, creating a marketplace to generate demand for climate-smart commodities. This project plans to support the implementation of more than 1 million acres of crop crops across 20 states. It also plans to enable corn and soybean commodity groups to achieve greenhouse gas emission reduction goals while supporting their farmer members and advancing more productive and sustainable practices.
As Congress funds high-tech climate solutions, it also bets on a low-tech one: nature
[B]eyond those headline-making investments, the legislation acknowledges a less-heralded but essential part of the effort to combat climate change: nature. Or, more precisely, that given a chance, nature can be a profound ally in the fight against climate change…
Americans beginning to correlate extreme weather with a climate crisis, but purse strings are still tight
Broader socioeconomic factors are also affecting those who are experiencing weather events, and more importantly, how these parties can financially respond to these events — and thus how willing they are to pay even more.
For instance, only 29% of households that experienced extreme events had 100% of their damages covered by insurance. Renters though had it worse — with those who have experienced extreme events being uninsured 70% of the time…
USDA to invest $1 billion in climate smart commodities, expanding markets, strengthening rural America
Agriculture Secretary Tom Vilsack announced today at Lincoln University that the U.S. Department of Agriculture is delivering on its promise to expand markets by investing $1 billion in partnerships to support America’s climate-smart farmers, ranchers and forest landowners. The new Partnerships for Climate-Smart Commodities opportunity will finance pilot projects that create market opportunities for U.S. agricultural and forestry products that use climate-smart practices and include innovative, cost-effective ways to measure and verify greenhouse gas benefits. USDA is now accepting project applications for fiscal year 2022.
U.S. Climate Resilience Toolkit: funding opportunities
Many of the strategies for increasing climate resilience come with a price tag. Increasingly, funding for local climate adaptation and resilience projects must draw on a range of public and private financing. For instance, groups may apply for federal grant funding, work through public/private partnerships, and/or fund projects through local taxes.
MN 2022 supplemental budget: Climate adaptation and mitigation
Governor Walz and Lt. Governor Peggy Flanagan’s Budget to Move Minnesota Forward includes $81.5 million in investments for DNR-managed public lands, facilities and infrastructure to reduce carbon in the atmosphere and adapt to current and future climate change impacts.
You can read more on the climate adaptation and mitigation investments here…
Illinois EPA: Climate and Equitable Jobs Act
The Climate and Equitable Jobs Act (CEJA), Public Act 102-0662, was passed by the General Assembly and signed into law by Governor Pritzker on September 15, 2021. CEJA includes provisions to phase out carbon emissions from the energy and transportation sectors. The Illinois EPA is directed in CEJA to establish rebate and grant programs for electric vehicles and charging stations and oversee the phase-out of fossil fuel-fired electrical generation units.
NYS Senate passes $4.2B budget measure to fund environmental infrastructure
While the climate change clock rapidly counts down to the point of no return, a record investment in the environment, renewable energy and climate adaptations is on the table in the $220 billion New York state budget for 2022-2023.
A key component to the state’s strategy for turning the tide of global warming is the creation of the Environmental Bond Act. This bill would authorize an amount not to exceed $4.2 billion in state debt to “restore mother nature.” It would focus on funding capital projects to preserve natural resources and reduce the impacts of climate change. Because the measure will create a state debt, voters will have the opportunity to approve the act in November’s election. If approved, the state will issue and sell bonds for the full amount of this cost starting immediately.