The Inflation Reduction Act (IRA) is the country’s first major climate bill. Funds will be delivered through a mix of tax incentives, grants, and loan guarantees primarily over the next ten years.

Xcel Energy’s Partners in Energy has developed this Resource Guide to help local governments, residents, and businesses navigate what IRA resources are available to them and how these resources could stack with Xcel Energy incentives and other resources. This guide is focused on components of the IRA that can be used by local governments and their community members, and does not include indirect benefits, such as utility grid incentives.

In July 2025, President Trump signed a tax and spending bill into law that had several implications for the Inflation Reduction Act. The most significant changes are: 

• Federal tax credits for electric vehicles ended September 30, 2025.

• EV charging infrastructure under the Alternative Fuel vehicle Refueling Property Tax Credit (30C) needs to be put into service by June 30, 2026.

• Home solar tax credits, heat pumps, heat pump hot water heaters, weatherization, and insulation will expire December 31, 2025.

• Utility-scale solar and wind facilities must either be placed in service by December 31, 2027, or beginning of construction must be established by July 4, 2026.