President Biden’s Inflation Reduction Act will have winners and losers. The White House reports that the $700 billion package will help address inflation by lowering energy and healthcare costs. This legislation, if approved, would include a whopping $369 billion for renewable energy, also known as green energy or clean energy. This investment would include wind, solar, electric vehicles, and more, with a goal of reducing carbon emissions by up to 40% in the next eight years.
In today’s video, I provide a quick overview of the Inflation Reduction Act, including the electric vehicle tax credits and limitations. Will Tesla (TSLA -2.62%) be included, or are the company’s vehicles too expensive to qualify? Watch the video below to find out. I provide the top five green energy stocks to buy now. These stock picks will be winners from the legislation, and you’ll want to watch this video in its entirety to see how you could benefit. Please don’t forget to subscribe to the channel to receive future updates.
*Stock prices used in the below video were during the trading day of Aug. 11, 2022. The video was published on Aug. 11, 2022.
Eric Cuka has positions in PowerShares WilderHill Clean Energy and Tesla. The Motley Fool has positions in and recommends NextEra Energy, Stem, Inc., and Tesla. The Motley Fool recommends First Solar. The Motley Fool has a disclosure policy. Eric is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through his link, he will earn some extra money that supports his channel. His opinions remain his own and are unaffected by The Motley Fool.