U.S. Department of the Treasury Releases New Data on American Consumer Energy Savings Under Inflation Reduction Act

In 2023, 3.4 million American families saved $8.4 billion on clean energy and energy efficiency investmentsWASHINGTON – Today, in advance of the two-year anniversary of the Inflation Reduction Act, the U.S. Department of the Treasury (Treasury) released new data from the IRS and new analysis by the Office of Economic Policy showing that more than 3.4 million American families benefitted from $8.4 billion in tax credits to lower the costs of clean energy and energy efficiency upgrades to their homes during 2023. Today’s announcement marks the first public release of data from 2023 tax filings showing the benefit of the Inflation Reduction Act’s clean energy tax incentives for consumers.The number of families benefiting from these expanded credits for investments that lower their utility bills increased almost one third compared to tax year 2021, prior to passage of the Inflation Reduction Act, and the aggregate value of the credits increased by almost