The government wants to give you thousands of dollars to remodel your home with energy-efficient updates that will save you money on your bills.
The Inflation Reduction Act offers Americans up to $8,000 through its Home Efficiency Program and up to $14,000 more through the Home Electrification and Appliance Rebates program.
That means you could get up to $8,000 for an Energy Star-certified electric heat pump for heating and cooling, $4,000 for an electrical panel, $840 for an Energy Star-certified electric heat pump clothes dryer, and up to 30% back on the cost to install a solar system, among other possible rebates and incentives.
🗣️ Do you have plans to significantly renovate your home?
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🔘 this year 👍
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🔘 within a few years ⏱️
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Energy-efficient home improvements such as these will save you big bucks on your energy bills. For instance, a heat pump can save you up to $1,000 a year. Meanwhile, Energy Star estimates that a heat pump dryer can reduce energy use by at least 28% compared to standard dryers.
Don't own a home? No problem. Qualified renters are eligible for IRA incentives, too, and may be especially interested in rebates for portable appliances like window-unit heat pumps and induction cooktops.
In addition to saving you money, reducing energy usage is also good for the environment. Residential energy use accounts for about 20% of planet-warming pollution in the United States, and an overheating planet is already driving weather catastrophes like longer and more intense hurricane seasons, devastating wildfires, record-breaking droughts, and deadly flooding.
Meanwhile, drawing energy from solar panels can completely eliminate your dependence on dirty fuels like oil, coal, and natural gas that are responsible for more than 75% of planet-heating pollution.
If you need help navigating the IRA, Rewiring America has an IRA Savings Calculator that shows you exactly how much you could save, along with instructions on how to redeem that money. The organization can also help you find contractors near you.
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