The Inflation Reduction Act, the most comprehensive climate law in U.S. history, will make it cheaper and easier for Americans to make their homes and vehicles more energy efficient.
Through the Home Electrification and Appliance Rebates (IRA) program, you can receive up to $14,000 from the government to equip your home with sleek, modern appliances.
According to Energy Star, the HEAR program focuses on efficient electrification projects for low- to moderate-income households. The program is being implemented at the state level and will then be rolled out nationwide. Rebates are expected soon in most states.
According to Energy Star, the funds could make it less expensive to install several energy-saving appliances, such as heat pumps for heating and cooling, clothes dryers, induction stoves and heat pump water heaters. In addition, you could get money back for weatherproofing measures such as attic insulation, waterproofing and new doors or windows.
Combined with possible utility or government tax refunds and tax credits, electrifying your home could save you thousands while doing the planet a favor by reducing the pollution your appliances create.
For example, if you upgrade your home with an Energy Star, you can receive up to $8,000 in rebates on a certified heat pump, up to $6,500 in electrical and panel improvements, and up to $1,750 in rebates on an Energy Star-certified heat pump water heater.
The initial investment in these clean technologies can be daunting for many people, but the incentives can drive the amount down – and the long-term energy savings, improved wellbeing and environmental benefits are well worth the initial cost.
For example, non-electrical household appliances such as gas stoves emit dangerous chemicals such as benzene and nitrogen dioxide, which can cause lung problems and other health issues and worsen indoor air quality.
By switching to an induction cooker, you will not only save money but also protect the health of your family.
In short, electrifying your home and vehicle is one of the most impactful ways to save your wallet and the planet. If you’re wondering how to take advantage of IRA tax breaks and credits, the nonprofit Rewiring America can help simplify the process.
The free grant calculator will show you exactly what you qualify for and how to apply for the money. When you’re ready, you can even use the website to find reliable contractors to install appliances or upgrade your home’s electrical systems.
As one of The Cool Down’s members explained, switching to green energy has never been easier (or cheaper): “We installed a heat pump last year and were able to deduct $2,000 from our taxes for 2023. (We) were able to submit the application and get the credit without much hassle!”
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