Federal Clean Energy Credits Boost for Mid-Michigan

June 26, 2024
Fact Checked

Tax credits for clean energy projects could bring billions of dollars from the United States government to mid-Michigan, significantly benefiting the region.

On Tuesday, June 25, local leaders were informed about the federal funding opportunities available through the Inflation Reduction Act. 

Representatives from the U.S. Department of Treasury, Department of Energy, Michigan Infrastructure Office, and the Department of Environment, Great Lakes, and Energy conducted presentations for community leaders. 

Held in Saginaw and Flint, these presentations were geared toward city officials and community institutions, including school districts, churches, and other nonprofit organizations. The discussions focused on the available tax credits and financing options under the Inflation Reduction Act, highlighting their potential to enhance both the environment and the community. 

Examples of clean energy projects that could benefit include installing solar canopies over parking lots to reduce ground temperatures and generate energy, as well as building solar fields to power school districts. Officials explained that the available tax credits could cover 6% to 50% of project costs, facilitating the cities’ transition to a clean energy economy. 

Zachary Kolodin, the chief infrastructure officer at the Michigan Infrastructure Office, emphasized the importance of recognizing the value of this financing. He stated, “Once people see the benefits of this financing, they can start planning new clean energy projects, which will help transition to clean energy, create jobs, and lower costs. This is crucial.” 

While specific plans for Saginaw and Flint are still in the works, Kolodin mentioned that the presentations were well-received with excitement. Moreover, the Inflation Reduction Act presents additional investment opportunities, including improvements to roads and bridges, high-speed internet, and water infrastructure.

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