The government is turning up the heat on incentives for homeowners to make eco-friendly upgrades that help keep our planet a cooler place. Now, or very soon, many homeowners will have access to as much as $8,000 for some eligible upgrades.
The Inflation Reduction Act, signed into law in 2022, aims to support the transition away from dirty energy to cleaner, more affordable, and more energy-efficient technologies.
The U.S. Department of Energy reports that of the nearly $400 billion the act allocated, $8.8 billion was for home energy rebates.
While some related incentives have been available for some time now, allowing many Americans to save beaucoup bucks on solar panels and electric vehicles, the home energy rebate incentives have just gotten underway.
Some rebates are currently available in New York and Wisconsin, according to the DOE, but many other states have applied, and several have had their applications approved.
This is good news for both homeowners and the planet they call home. Electrifying your home, vehicle, and appliances is one of the best ways to save money and help the environment, and the IRA is working to make these upgrades accessible to more people every day.
The gases created from burning dirty energy to power our lives trap heat in our atmosphere and are one of the biggest contributors to rising global temperatures. Rising temperatures lead to climate chaos, which, in turn, leads to more frequent extreme weather events and the endangerment of communities and even our food supply.
Aside from saving you money and taxing the planet less, taking advantage of these tax breaks and rebates to modernize your home can also contribute to healthier air inside your home. For example, gas stoves have been proven to pump toxic fumes into your home, but an induction cooktop does not, and it is one of the appliance types that will qualify for the rebate.
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If you're ready to make the changes but don't know where to start, organizations like the nonprofit Rewiring America have your back. It offers free tools to make the process easy and painless by helping people navigate available tax incentives, find contractors, and make sure it all happens at the lowest cost to them.
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