On August 16th, 2022, President Biden signed the Inflation Reduction Act (IRA) into law. The IRA will help Federal, State and Local governments reduce greenhouse gas emissions and advance renewable energy adoption. The Town of Carrboro will leverage every opportunity it can through the IRA to meet the goals of the Carrboro Connects Plan, the Community Climate Action Plan and the Energy and Climate Protection Plan.
The IRA will also help Carrboro residents and businesses reduce their carbon footprint through tax incentives. While we provide these links for your convenience, we cannot provide tax advice and recommend you work with a qualified tax professional to see if you are eligible for the tax incentives that are part of the Inflation Reduction Act of 2022.
Inflation Reduction Act for Individuals
Electric Vehicle Tax Credit including vehicles purchased in 2022 or earlier and used EVs