Now is the time to start thinking about energy-saving upgrades to your home — and if you play your cards right, the government could foot the bill.
The U.S. government has an interest in improving your home's energy efficiency for two reasons. One, it saves you money, which is great for the average American. Two, it can dramatically reduce energy and fuel usage across the country. That's good news for the whole world since it reduces the amount of heat-trapping pollution created while powering homes.
Thanks to the Inflation Reduction Act, which passed in 2022, the government is able to offer a wide range of incentives and rebates for energy-efficient home upgrades. Some of these are existing programs that had ended or were about to end but were extended under the IRA. Other credits are new.
In all, you could claim up to $14,000 for projects like improved insulation, double-glazed windows, installing an electric induction stove, adding a heat pump, or putting in a charging station for an electric car.
All of these projects take an up-front investment but save you money by saving energy — and now the government wants to cover some of those up-front costs. Depending on which projects you want to tackle, they could be completely paid for by the IRA.
If you're worried about navigating the complicated incentive programs to get the money you're entitled to — don't be. Nonprofit Rewiring America offers free tools to help you determine exactly what benefits you qualify for. Just input some basic information like your location and income bracket, and Rewiring America will provide a list of projects you can try in your home and how much support you can expect for each one.
Whether you want to do your part for the planet, slash your power bill, or just make your house more comfortable and update old appliances, it's never been easier.
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