Act represents a transformational step forward for glass industry as 30% tax credits create cost parity with traditional windows
VANCOUVER, British Columbia, Aug. 17, 2022 /PRNewswire-PRWeb/ -- Miru Smart Technologies (Miru), a developer of next-generation electrochromic windows (eWindows), 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 incenting 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.
The Dynamic Glass Act was designed to help establish clean energy as a cost-effective option for many Americans. The Act provides eWindow manufacturers with multiple avenues to increase the adoption of electrochromic windows. In addition to the 30% tax credits for eWindow installation, the Act provides close to $400 B to fund energy-efficient building projects.
About Miru Smart Technologies
Miru Smart Technologies is developing next-generation electrochromic window solutions for the residential, commercial and automotive markets. Miru is disrupting how eWindows are produced and distributed, with a patented process that lowers costs, improves performance and significantly reduces carbon emissions—enhancing the well-being of people and our planet. Miru imagines a world where windows expand your view and keep you connected to your community and the world around you. Learn more at mirucorp.com.
Megan Verchere, Miru Smart Technologies, 1 604-761-3946, [email protected]
SOURCE Miru Smart Technologies