Since 2022, the U.S. government has offered tax credits and rebates to homeowners via the Inflation Reduction Act. Qualified homeowners can get up to $14,000 for making money-saving, energy-efficient upgrades to their homes.
If you've been waiting for the right time to renovate your home — this is it. What better way to swing into the new year than with shiny new plans to upgrade your home and get some money from the government in return?
More than 3.4 million American families have already claimed over $8 billion of residential energy-efficiency tax incentives and rebates. There's plenty more where that came from.
It's worth noting, however, that President-elect Donald Trump has stated his intentions to end the subsidies, per The Salt Lake Tribune. A major change like this would require an act of Congress, but the future of the IRA is uncertain. Acting fast now could save you thousands of dollars on initial costs and lead to even more savings in the long run.
Home energy efficiency upgrades like solar panels and induction cooktops help homeowners cut down on their electricity and gas bills. The IRA assists homeowners financially to help them get these products installed and get them on the road to more savings.
While helping Americans save money for years to come, the IRA is also encouraging more widespread usage of clean energy technology that will help curb rising global temperatures.
Electrifying your home, vehicle, and appliances is one of the best ways to save money while also helping the environment. Energy-efficient appliances and electric vehicles cut down on both energy bills and pollution output.
With so many options to choose from for upgrading your home, a resource like Rewiring America can be a great place to start.
Rewiring America has free tools to help homeowners navigate available tax incentives, find contractors, and make upgrading their homes way cheaper.
🗣️ Should the government be paying us to upgrade our homes?
🔘 Definitely 💰
🔘 Depends on how much it costs 🫰
🔘 Depends on what it's for 🏡
🔘 No way 🙅
🗳️ Click your choice to see results and speak your mind
According to CBS News, the benefits of the IRA recently expanded to Colorado to create their Home Electrification and Appliance Rebates program. U.S. Secretary of Energy Jennifer Granholm said: "Colorado's HEAR program presents a historic opportunity for residents in the state to save hundreds to thousands of dollars on energy-efficient upgrades and reduce energy bills for seasons to come."
Check the Rewiring America tools to see how much money could be available to you.
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