The IRA incentivizes high-efficiency replacements and encourages the move to electrification, which is simply replacing fossil fuel systems with an alternative, electric heat source.
Motivated both by rising energy costs and sustainability concerns related to climate change, consumers have grown more desirous of energy-efficient living.
Blackstone and Emerson had jointly announced plans for the spinoff company last year. Emerson, which receives about $9.7 billion in cash in the deal, also retains a 40% ownership stake in Copeland.