The Inflation Reduction Act has made it possible for homeowners to get thousands of dollars in tax benefits for making money-saving home energy upgrades.
While there are upfront costs with actions such as installing solar panels or buying an electric vehicle, the long-term savings make the initial investment well worth it.
Consumers can get thousands of dollars in tax rebates and watch their annual savings rise. For example, buying a qualified EV could get drivers up to $7,500 in tax credits and save them money on gas and maintenance. Homeowners who install solar panels can deduct 30% of the cost from their federal income taxes and quickly begin to enjoy lower power bills.
In fact, electrifying your home, vehicle, and appliances is one of the best ways to save money while helping the environment. Energy from the burning of dirty fuel creates toxic pollution, but making energy upgrades cuts down on the planet-warming gas in the atmosphere.
This reduction of harmful emissions also aids with health issues caused by pollution, including asthma and reproductive problems. Electrification upgrades are a win-win for everyone.
There's a ton of options to choose from when it comes to electrifying your home and vehicle. Not sure where to begin? Rewiring America has a great tool to help you get started.
The leading electrification nonprofit developed a handy calculator that aids homeowners and renters with quickly finding ways they can get money back from the government by making upgrades that will also save them money in the future.
Answering a few quick questions can help you start a step-by-step plan to get yourself on the road to thousands of dollars in tax benefits and big future savings.
Rewiring America additionally has free tools to help people find contractors and make upgrading their homes way cheaper.
The Inflation Reduction Act is helping Americans upgrade their homes and vehicles while saving thousands and encouraging more widespread use of clean energy technology. Some states are offering their own tax benefits for clean energy upgrades as well.
The Senate in North Carolina is making it easier for businesses to go green. Florida plans to give residents rebates for home energy upgrades. And several other states are working toward offering residents clean energy tax benefits.
Join our free newsletter for good news and useful tips, and don't miss this cool list of easy ways to help yourself while helping the planet.
Cool Picks
