The Inflation Reduction Act signed into law last summer contains some good news for religious and nonprofit organizations.
For the first time in history, houses of worship and nonprofit organizations’ buildings can qualify to tap into the $158 billion allotted nationwide for clean energy investments. All churches and nonprofits in Montgomery County qualify to take advantage of opportunities that can reduce energy costs upwards of 35%.
To help Montgomery County groups start the learning process about what such funds are and how to receive them, the LWVMC Climate Team and the St. John’s Episcopal Church Creation Care committee are hosting an Energy Forum for Nonprofits on Saturday from 9-10 a.m. in Whitlock Hall, 212 S. Green St., Crawfordsville. Participants are encouraged to sign up and bring a team of two to four people to represent your church or nonprofit organization. Reservations are due Friday to: Helen Hudson (hudsonh@wabash.edu) or Kimarie Green (kimarie.green@gmail.com). You may also call 765-362-3603.
Presenter John Smillie is a local resident, well informed about the IRA bill. In a clear, visual presentation, he will help attendees see how IRA funds can translate into energy-saving and financial benefits for our community. Over the last 18 months, Smillie has volunteered his expertise to help two local nonprofits (YSB and the Boys & Girls Club) shift to more sustainable energy.
“The Inflation Reduction Act provides unprecedented new opportunities for nonprofits — including houses of worship and state and local governments — to take advantage of federal tax credits for renewable energy and energy storage,” Smillie said.
In his presentation, our speaker will give an overview of what these new opportunities are, the process of taking a nonprofit solar, and the financial benefits of doing so. In Smillie’s words, “Taking a nonprofit solar can set up a gift that keeps on giving for 30 years, with a rate of return that rivals the stock market.”
This program will also be of interest to individuals hoping to improve their energy profile going forward. While the new credits for nonprofits are focused on renewable energy and storage (which typically means solar panels and batteries, but can include wind and geothermal heat pumps), there are a range of investments that both homeowners and nonprofits can make to reduce their energy costs and their environmental impact. Smillie will discuss these as well, touching on the tax credits that will be available to homeowners (though not available to nonprofits).
