On Aug. 16, President Joe Biden signed the Inflation Reduction Act into law, directing billions of dollars to Americans looking to upgrade their homes, businesses and cars.One provision of the law allows Americans making less than $150,000 a year to claim a $7,500 tax credit for buying an electric car.The law also provides $9 billion in rebates to help people electrify their home appliances and make their houses more energy-efficient. It’s also allowing Americans to claim a tax credit for installing heat pumps in their homes.Altogether, the Inflation Reduction Act is showering $369 billion on clean energy programs and businesses throughout America.To stay updated with top startup investments, sign up for Benzinga’s Startup Investing & Equity Crowdfunding NewsletterAnd clean energy investors already have something to celebrate. In the months since the act was signed into law, renewable energy companies like NextEra Energy Inc. (NYSE: NEE) have handily outperformed the S&P 500.

Biden Administration Paying Americans Thousands of Dollars to Upgrade Their Homes