Thinking of upgrading to a more efficient stove? The government is offering rebates of up to $840 if you switch to an Energy Star-certified model.
Under the Inflation Reduction Act (IRA), millions of homeowners can apply for a Home Electrification and Appliances Rebate for their new electric appliances.
This is one of many financial incentives listed in the IRA for consumers who want clean energy products in their homes.
Switching to an electric induction stove is not only better for you, but it can also save you money in the long run.
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The Department of Energy has stated that electric stoves are three times more energy efficient than gas ones, while induction stoves are even better. In addition to the $840 rebate, switching to these high-efficiency stoves can lower your energy bills because induction models heat up much faster.
Gas stoves pollute the air and emit carcinogens that are bad for your lungs. One in eight childhood asthma cases is caused by gas stoves, according to a study.
It can be hard to figure out what incentives you qualify for, so the nonprofit Rewiring America has created a tool to calculate how you can benefit from the IRA.
Rewiring America also has resources for you to learn what discounts are available for new appliances, what tax credits you are eligible for, and more.
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While homeowners can stand to benefit from the IRA, President Donald Trump has repeatedly stated his opposition to the subsidies. It's not a guarantee that these benefits would go away, because Congress would have to act to eliminate them.
However, while the future of the IRA remains unclear, it's best to take advantage of tax credits and rebates now so that you can save thousands when upgrading your home.
Not a homeowner? Renters can experience the benefits of induction burners by purchasing a plug-in cooktop, which can start at around $50.
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