There has never been a better time to make your home more sustainable, as there is money waiting to be given to you for those changes.
The 2022 Inflation Reduction Act (IRA) was a monumental step towards making the U.S. a greener country overall. Included in the IRA are perks like up to a $1,600 rebate for weatherizing your home or up to $840 back in a rebate for swapping a natural gas stove for an electric induction alternative.
You can access $8,000 or more in rebates to make your home more efficient through the Home Efficiency Rebates program. Individual U.S. states are also benefiting from specific amounts of funding from the IRA.
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For example, Michigan has created its own rebate initiative, called the Michigan Home Energy Rebates program (MiHER), which was funded with $211 million from the IRA. This budget is estimated to help reduce the costs of home energy efficiency projects for up to 15,000 households, reported The Center Square.
Making upgrades like the examples above are not only beneficial to the environment, but they also will save you money in the long run. A great resource to learn more about the money you can save from federal rebates, as well as from energy efficiency over time, is Rewiring America. Its online savings calculator will ensure you are making the smartest choices for the most money saved.
If you are considering benefiting from these savings, make sure to act fast. President-elect Donald Trump has made it clear that he intends to eliminate subsidies like those available through the IRA, which would require an act of Congress. Therefore, you should take advantage of potential savings sooner rather than later.
Bill McKibben, a climate journalist and activist, stated in a press briefing that, "The IRA creates an $8,000 bank account for every American household … if people figure out how to access it and use it." That emphasizes just how important tools like those from Rewiring America are.
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