An estimated 40 million Americans are now eligible to save thousands of dollars on home upgrades.
The Inflation Reduction Act is making it easier than ever for homeowners to save money on sustainable home upgrades. Millions of homeowners are eligible for thousands of dollars in rebates on everything from electric stoves to solar panels to weatherization — and here's how.
The Inflation Reduction Act set aside billions of dollars to put towards developing new clean energy advancements, electric cars, eco-friendly home upgrades, and more.
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That said, these benefits may not be available forever. President-elect Donald Trump has stated that he plans to eliminate large portions of the IRA, so taking advantage of the tax incentives sooner rather than later could save thousands of dollars while the window of opportunity remains open.
Now, California is launching Home Electrification and Appliances Rebates, or HEAR, which will make it "cheaper to install cost-saving measures such as heat pumps, electrical panels, and insulation, which helps save money on housing costs," according to the Department of Energy.
Homeowners can save thousands of dollars, depending on the upgrade, but it's not a guessing game. Rewiring America's free Incentive Calculator will tell you how much you'll save on various home upgrades under the IRA. They can even help you find contractors for the job. It's an incredible resource and a great first step towards taking advantage of the tax breaks and credits in the IRA.
Electrifying your home and your car is one of the easiest ways you can make a difference in the battle against our changing climate, and the IRA is adding even more benefits.
Not only will these home upgrades save homeowners money — "up to $1 billion annually in energy costs," per the DOE — but they create tens of thousands of jobs and help bring California and the country closer to clean green energy.
California Governor Gavin Newsom told the DOE, "With the help of the Biden-Harris Administration and the historic Inflation Reduction Act, Californians can now get up to thousands of dollars to make the switch to energy efficient appliances. Saving money and fighting the climate crisis has never been easier."
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