People renovate their homes for various reasons, such as to fix safety issues, improve comfort, or increase the house's value.
But there's another excellent reason to start looking into upgrades that can have a tremendous impact on your monthly expenses and the planet.
The Inflation Reduction Act enables American households to save thousands of dollars for making energy-efficient upgrades that prevent them from wasting energy and money.
One of the easiest and most effective ways to dive into home energy efficiency is weatherization. According to the U.S. Department of Energy, "Once installed, energy-efficient weatherization measures continue to save money and energy year after year and increase household incomes so funds can go towards key living expenses."
Weatherization, which includes improving your home's ventilation, insulation, and air sealing, creates an average annual energy cost savings of $283 — 18% for heating and 7% for electric consumption.
Meanwhile, weatherization projects benefit local economies through employment opportunities and improve the quality of life of families because energy-efficient features reduce harmful pollutant exposure that leads to health issues.
The government is offering $1,600 in rebates for weatherization projects to make these upgrades feasible on a tight budget. To qualify for the rebates, ensure that weatherization-related appliances have ENERGY STAR certifications.
Weatherizing your home is an excellent step toward energy efficiency. Still, there is a lot more you can do to take advantage of the current government incentives.
Homeowners can get up to $14,000 in electrification rebates, and low-income households receive 100% of electrification project costs covered up to that amount, including installation. The upfront discounts also extend to multi-family buildings housing low- and moderate-income residents.
Check out Rewiring America's calculator and other tools to help you navigate the available tax incentives, get the best electrification deals, and find contractors.
As energy costs continue to rise across the nation and energy-related hardships increase with each passing year, now is the time to see if weatherization upgrades are possible with your lifestyle and budget.
"Without a doubt, this shower of subsidies will help clean up the U.S. energy mix at a speed climate advocates had previously only dreamed of," wrote Dan McCarthy from Canary Media.
"By making energy-efficient enhancements affordable for developers, the IRA is making way for renewable energy to be incorporated into a wide variety of housing portfolios, including affordable housing," wrote the authors of a Novogradac article.
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
