Dear USET/USET SPF Family,
The Inflation Reduction Act (IRA) of 2022 makes the single largest investment in climate and energy in American history, enabling America to tackle the climate crisis, advancing environmental justice, securing country’s position as a world leader in domestic clean energy manufacturing, and a pathway to achieving the Biden Administration’s climate goals, including a net-zero economy by 2050. The Act invests a historic $369 billion in addressing climate change, with several new or expanded Tribal specific programs created at the Department of Interior (DOI) and Department of Energy (DOE). Clean energy tax credits are now directly available to Tribal governments and non-profits, and other relevant programs and provisions to support reinvestment in energy and environmental justice for Tribal communities—with some set to expire in 2024 or 2026. Tax credit bonuses and DOE loans can also be stacked, providing a significant opportunity for Tribal energy projects.
This information was shared during the USET/USET SPF 2022 Annual Meeting. Linked below is a resource that provides more information from the Department of Energy on these programs. This information is being shared with the USET/USET SPF membership for educational purposes as part of the continued build out of USET’s Office of Economic Development. For more information or resources, please contact Rebecca Naragon, USET Economic Development Director, at RNaragon@usetinc.org or 615-521-3606.
IRA Tribal Provision Summary