Green Tip: Investing in our Future

Originally published in the Palisadian Post

Courtesy of Third Act SoCal

The Palisadian-Post has partnered with locally founded environmental organization Resilient Palisades to deliver a “green tip” to our readers in each newspaper. This edition’s tip was written by Kerry Tani, a member of Third Act SoCal, a group of volunteers over 60 dedicated to preserving and protecting our climate and democracy.

Many of us are thinking of upgrading our homes to make them more energy efficient and reduce our carbon footprint. Switching to abundant clean energy sources will reduce our reliance on fossil energy, eliminate pollution, and support the health of our families and communities.

Regardless of where you are in your clean energy journey, consider taking advantage of these resources when researching your options.

Your Neighbors

As you look around your neighborhood, you may notice that more and more homes are drawing energy from rooftop solar panels.

Katharine Hayhoe, chief scientist for the Nature Conservancy, uses the term “solar contagion” to describe what happens after a homeowner installs solar panels: Owners of nearby houses are more likely to install them too.

If you’re thinking about getting solar panels, community members who have already installed them are an invaluable resource on selecting an installer, getting required permits and approvals, and learning how much energy you can save.

Financial Incentives

In 2022, Congress passed and President Biden signed the Inflation Reduction Act. Some people call the historic IRA “Biden’s Big Climate Bill” because it contains nearly $400 billion in climate-related programs.

The IRA includes benefits to businesses and consumers. Experts agree that transitioning from our current energy system to a modern clean energy economy will be expensive at first, but they also point out that people will face much lower energy bills and benefit from a far cleaner, healthier environment.

This is the largest investment ever in addressing climate change. A substantial portion of that investment is available in the form of federal tax credits to individuals who invest in a wide variety of energy efficiency projects, such as installing an energy-efficient heating and cooling system, water heater, battery system, solar panels, insulation and air sealing, electrical system upgrades, and more in their own home. Clean vehicles are also eligible for tax credits.

Qualifying for the IRA tax credits may seem to be complicated. To help you take advantage of these federal tax credits, Third Act SoCal, a volunteer organization, has prepared easy-to-read information sheets that explain how individuals can take advantage of the IRA federal tax credits when making several home improvements.

The information sheets describe who is eligible for the credits, the amount of tax credit available to eligible taxpayers, the forms required to claim the credit and the types of products that meet energy-efficiency requirements.

Everyone benefits and saves money when more of our community members switch to clean energy whenever they can.

The information sheets are available on the Third Act SoCal website: thirdact.org/socal/2024/05/17/save-money-save-the-planet.