Millions of Americans could see big savings on their energy bills thanks to this climate change grant.
The Environmental Protection Agency has awarded $450 million to the New England Heat Pump Accelerator, a coalition of environmental departments across Maine, Connecticut, Massachusetts, New Hampshire, and Rhode Island. Together, these states will use the grant to "rapidly accelerate the adoption of cold-climate air-source heat pumps, heat pump water heaters, and ground source heat pumps," per the EPA.
This is especially great news for Maine, as the state is already at the halfway mark for its "goal of installing 15,000 heat pumps in low-income homes by 2025," according to The Maine Monitor.
🗣️ What is stopping you from upgrading to a heat pump system?
🔘 The cost of installation 💵
🔘 I live in a cold area 🥶
🔘 I don't know enough about it 🤷
🔘 I already have one 😎
🗳️ Click your choice to see results and speak your mind
Heat pumps work by transferring heat rather than creating it, making them far more energy-efficient than other HVAC systems. In the winter months, the pumps pull heat from the ground and air and push cold air out of your home. In the summer, they do the opposite and push the warm air outside.
While it varies depending on a home's size and location, a heat pump can save the homeowner $557 per year, per Carbon Switch.
To get an idea of how much you could save, try EnergySage's Heat Pump Marketplace. Answer a few questions about your home, and EnergySage will help you find local installers, review customized quotes, and schedule an in-home consultation.
You could even be eligible for additional tax credits and rebates under the Inflation Reduction Act. The IRA covers up to $2,000 of the cost, which could jump to $8,000 for qualifying low-income households.
If you want to ensure you can cash in on those savings, though, make the switch sooner than later. President-elect Donald Trump has indicated that he wants to make changes to the Inflation Reduction Act, though that would require approval from Congress.
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David Cash, regional administrator for the EPA, told The Maine Monitor that heat pumps can change people's lives. "That's what this is all about: Providing people with … heating and cooling in a way that just makes their lives better," he said.
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