Miru Smart Technologies applauds the signing on August 16 of the Inflation Reduction Act (IRA) into law by President Joe Biden. The IRA includes the game-changing Dynamic Glass Act which offers 30% investment tax credits for builders to use eWindows—effectively leveling the playing field with traditional windows—and incentivizing the industry towards improving energy practices.
“The Dynamic Glass Act is a transformational step forward for the electrochromic glass industry and the effort to reduce carbon emissions globally,” said Curtis Berlinguette, Founder and CEO, Miru Smart Technologies. “With 20% of global CO2 emissions coming from maintaining internal building temperatures, and with electrical grids reaching capacity, the signing of the Dynamic Glass Act into law will have a significant impact in reducing the climate impact of the building and construction industry.”
Miru’s patented low-carbon eWindow manufacturing process and distribution strategy already lowers eWindow production costs by 25%. Combined with the new tax credits, Miru’s eWindows become an even more affordable and attractive option for builders to include dynamic tinted windows in their new builds and retrofits.
Dynamic Glass Act is a significant piece of legislation that aims to promote clean energy and energy-efficient building projects in the United States. The act provides various incentives to encourage the adoption of electrochromic windows, including a 30% tax credit for eWindow installation. This tax credit makes electrochromic windows a more cost-effective option for many Americans and incentivizes building owners to invest in energy-efficient technologies.
In addition to the tax credits for eWindow installation, the Dynamic Glass Act also provides close to $400 Billion to fund energy-efficient building projects. This funding can be used to support a wide range of energy-efficient technologies and building upgrades, including the installation of electrochromic windows. This funding can help businesses and building owners overcome the initial cost of investment in new technologies, making it easier for them to adopt clean energy solutions.