The federal government wants to give you money to remodel your home while helping you save money on your power bills.
Thanks to the Inflation Reduction Act, certain households are eligible for up to $14,000 in rebates to make energy-efficient upgrades such as new insulation, eco-friendly appliances, heat pumps for heating and cooling, and more.
According to the Energy Star website, the Home Electrification and Appliances Rebate (HEAR) program that is part of the IRA and has started to support programs in certain states "is focused on efficient electrification projects for low-to-moderate income (LMI) households."
Making your home more energy efficient could save you some major cash to operate, too. For instance, a heat pump can save you around $1,000 annually on energy bills. Meanwhile, an Energy Star washer could slash your energy costs by 25% and your water bills by 33%.
Greening up your home will also do a solid for the environment, as close to 18% of the country's energy-related carbon pollution comes from the residential sector, based on data from the Energy Information Administration. This powerful gas is driving the overheating of our planet, accounting for more than three-quarters of all planet-heating pollution.
As global temperatures continue to spike, scientists predict myriad consequences, such as increased frequency and severity of weather events, which can put human lives and property at risk.
Investing in energy-efficient home upgrades is one of the best ways you can fight against rising global temperatures. For instance, washer-dryer combos account for nearly 10% of a home's carbon pollution.
Energy Star estimates that if all clothes washers and dryers in the U.S. were Energy Star-certified, it would prevent 41 billion pounds of carbon pollution annually, which is equivalent to the pollution from 3.8 million vehicles in that timeframe.
Overall, the Department of Energy has estimated that the IRA and Bipartisan Infrastructure Law will help slash planet-warming pollution by more than 1 billion tons in 2030.
Not sure where to start? Nonprofit Rewiring America has free tools to help you navigate available tax incentives, find contractors, and make upgrading your homes affordable.
It's also worth looking into incentives such as Arizona's new rebate program, which is designed to help low- and middle-income households save on energy-efficient HVAC equipment and other appliances.
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