You could get $4,000 for a new breaker box — courtesy of the US government

The government is giving away free money to help you update your home to be more energy-efficient.

That's right — through the Inflation Reduction Act's High-Efficiency Electric Home Rebate Program, homeowners can cash in on up to $14,000 of rebates to electrify their homes. For instance, you could qualify for up to $8,000 for a new heat pump HVAC unit, $840 for a heat pump clothes dryer, and $4,000 for a breaker box.

Plus, you don't have to own a home to benefit from the program. Qualified renters are eligible, too, and may be especially interested in rebates for portable appliances like window-unit heat pumps and induction cooktops.

🗣️ 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 🙅

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Making energy-efficient upgrades is one of the best ways to slash your home energy costs. For instance, a heat pump can save you up to $1,000 a year in energy bills. Meanwhile, a heat pump clothes dryer can reduce energy use by at least 28% compared to standard dryers, according to Energy Star.

Saving energy is not just good for your wallet but also a win for the environment. Residential energy use accounts for about 20% of planet-warming pollution in the United States. An overheating planet is already driving weather catastrophes like longer and more intense hurricane seasons, devastating wildfires, record-breaking droughts, and deadly flooding.

"The good news is that these technologies are better than the ones that they replace," said Bill McKibben, one of the country's leading environmental journalists. "Your magnetic induction cooktop is better than the gas flame that you cook on, cheaper, and it doesn't give your kids asthma. The heat pump is an elegant replacement for the furnace and cheaper to use in the long run."

Watch now: How did Hurricane Helene wreak havoc so far inland?

If you're ready to get started with your IRA tax rebates, Rewiring America has free tools that can help you navigate available tax incentives, find contractors near you, and save money.