The era of home renovation has arrived, now that the US government is giving people money to modernize their spaces And reduce their energy costs.
Sounds too magical to be true? It’s not a dream—just the Inflation Reduction Act, a 2022 law designed to protect your health, secure your property, prevent natural disasters, and improve your finances.
Just two years old, the IRA represents the nation’s largest investment in combating the toxic pollution responsible for extreme heat, record flooding, increased disease risks, damage to infrastructure, and more. Reduce Harmful Pollution from Dirty Energy And Fill your bank account by prioritizing important, cost-cutting renovations that also work with available IRA tax credits and rebates.
For example, get rid of your unhealthy gas stove and opt for a cleaner and more practical induction hob. Minimize your dependence on a failing power grid by installing solar panels on your roof. Want rewards over and over again? Upgrade to a heat pump water heater and enjoy huge savings on annual electricity bills.
Other ways to upgrade your home include upgrading appliances (feel free to get rid of that clunky clothes dryer) and finding energy-efficient replacement systems for insulation, air conditioning, and ventilation. Want to move out? Through the IRA, anyone who buys a new or used electric vehicle can get tax breaks—up to $7,500 or $4,000, respectively.
According to the U.S. Department of Energy website, “all households are potentially eligible” for the Home Efficiency Rebates program, which offers rebates of up to $4,000 for improvements that reduce household energy use by at least 20%, and up to $8,000 for those who achieve a reduction of 35% or more. Wisconsin residents can now take advantage of these home rebates, and more than 20 other states are moving through the program’s application pipeline.
The Home Efficiency Rebates program is separate from the Home Electrification and Appliance Rebates program, which is designed for low- and moderate-income households. These rebate programs are also different from the federal tax credits already available.
Such qualified improvements to your home, car and appliances go a long way toward reducing costs, benefiting your health and ensuring a less polluted environment in the short and long term. And the IRA has made it easier than ever to take these sustainable steps. The nonprofit Rewiring America simplifies it even further with free tools that walk you through the process of selecting applicable tax credits, matching with contractors for energy-saving improvements and maximizing your budget.
The IRA joins a number of other current climate-related policies and programs in the United States—such as those aimed at cleaner water supplies, retail recycling, and accountability for dirty energy production—and works to protect our land, resources, children, air quality, bank accounts, and daily lifestyles.
Subscribe to our free newsletter for good news And useful tipsand don’t miss this cool list of simple ways you can help yourself and the planet at the same time.
