Energy Sec. Granholm: Families Should Use EV Tax Credits, Weatherize Their Homes, Finance Solar Panels To Cope With Inflation

 Energy Secretary Jennifer Granholm suggested that families should buy an electric car or invest in weatherizing their homes to combat soaring inflation.

Appearing on “Fox News Sunday,” Granholm touted the tax credits for buying an electric vehicle or weatherizing homes and businesses in the so-called “Inflation Reduction Act.” Granholm claimed that those tax credits would lower costs for low-income and middle-class families struggling with inflation.

“One of the critiques here with these credits is that the prices are high, right? And the supply is limited. What is the practicality? It seems like there’s a disconnect. What’s the practicality for everyday Americans in this kind of benefit?” host Trace Gallagher asked.

“There’s two implications here,” Granholm replied. “One is, for example, if you want to buy a used electric vehicle, you can get $4,000 off at the dealership today. If you want to buy a new electric vehicle, there is a $7,500 credit for those that are assembled in America … Why is this important? Because the president … wants to re-shore manufacturing. It’s not just in electric vehicles … It will be in solar panels. It will be in wind turbines. It will be in transmission. It will be in electric vehicles and the batteries for those electric vehicles. A whole supply chain and ecosystem, energy ecosystem, built up in the United States because of the incentives in the Inflation Reduction Act.”

“But you talk about incentives. Maybe it’s the messaging. People don’t quite get it,” Gallagher responded, cutting to clips of ordinary Americans who said they still could not afford an electric car, even with the tax credit. “And really, you could make the same argument, we were talking about tax breaks for adding solar panels, energy-efficient windows, appliances, heat pumps. What do you say to the families who simply can’t afford this stuff in the first place?”

“Number one, for your home, yes, there are significant incentives in this bill, which is great to reduce people’s energy costs on a monthly basis,” Granholm replied.

“So if you are low income, you can get your home entirely weatherized through the expansion from the bipartisan infrastructure law,” she continued. “If you want heat pumps, insulation, new windows, that is covered. If you are moderate income, today, you can get 30% off the price of solar panels. Those solar panels can be financed, so you don’t have to have the big outlay up front.”

“When they’re financed, they’re financed in a way that reduces your energy bill even though you have solar panels, with this 30% off. It’s a significant incentive. Same thing if you don’t qualify for the weatherization program, you will be able to, starting next year, get rebates on the appliances and equipment that will help you reduce your monthly energy bill by up to 30%. This is all about reducing costs for people.”

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Energy Sec. Granholm: Families Should Use EV Tax Credits, Weatherize Their Homes, Finance Solar Panels To Cope With Inflation Energy Sec. Granholm: Families Should Use EV Tax Credits, Weatherize Their Homes, Finance Solar Panels To Cope With Inflation Reviewed by Your Destination on August 22, 2022 Rating: 5

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