PORT WASHINGTON, Wis., August 15, 2022 – Franklin Energy, a leading provider of end-to-end energy management solutions, announced today its readiness to support implementation of the historic climate change bill, the Inflation Reduction Act. The bill establishes the largest investment in US history to drive the transition to clean energy and challenge the climate emergency.
“The Inflation Reduction Act offers the best opportunity yet to address the climate crises,” said Terry Sobolewski, Franklin Energy Chief Executive Officer. “With extensive funding for home energy rebate programs, energy-efficient affordable housing, as well as consumer tax credits for energy-efficient retrofits and EVs for lower-and middle-income individuals, this is the most comprehensive climate change legislation in our nation’s history.”
The bill supports creation of new jobs in clean energy, reducing carbon emissions, and advancing innovative energy technologies that will lower consumer costs and help meet long-term emissions goals. Nearly $9 billion of the federal funding is earmarked for state energy offices who will implement residential energy efficiency and electrification programs that impact regional and local economies.
“This legislation could potentially save American households up to $220 per year in electricity costs over the next decade, while significantly reducing the electricity and natural gas cost volatility that has plagued the nation in recent years,” said Lloyd Kass, Franklin Energy Vice President of Strategy and Market Development. “As a leader in proven solutions that lower consumer costs and reduce energy waste, Franklin Energy stands ready to help federal and state policy leaders design programs that use IRA funds to reach as many energy consumers as possible and to have the biggest economic and environmental impact.”
About Franklin Energy
Franklin Energy delivers end-to-end sustainable energy management solutions through a portfolio of intelligent products and services that lowers costs, reduces carbon and waste, and grows stronger communities and local economies. Franklin Energy is committed to achieving net-zero carbon emissions by 2025, protecting our communities and planet while building a brighter, more sustainable future.