Most American homes have at least one area where they could improve, like better insulation or an induction kitchen range instead of gas. If you've been putting off a renovation project or an appliance upgrade out of concern about the cost, now's the perfect time to make a move — because the federal government is ready to subsidize the work.
The Inflation Reduction Act of 2022 is full of money-saving benefits for American citizens. One great one you might have overlooked? A cool $8.8 billion was allocated for home energy rebates.
Improvements to your home's energy efficiency can include switching to Energy Star electric appliances to use the smallest amount of energy; adding wall insulation or double-glazed windows to keep the interior at a comfortable temperature and reduce the need for heating and cooling; or upgrading your wiring to allow for more electric appliances and less gas.
What's great about all those improvements is that they don't just make your quality of life better. They also save you money on your power bill — many of them paying for themselves over time with ongoing savings.
Now, with the IRA's federal rebates, those savings are in reach for more people than ever.
"In essence, the IRA creates an $8,000 bank account for every American household … if people figure out how to access it and use it," said leading environmentalist Bill McKibben during a press briefing.
Figuring out what rebates you qualify for is the hard part, but electrification nonprofit Rewiring America has made it easy. The group's website offers a household electrification incentives calculator where you can find out what's available. Just enter some basic info like your ZIP code and whether you're a homeowner or a renter, and Rewiring America will list how much you can save and on what.
The IRA has made it easier than ever to move forward with your next home upgrade while benefiting the planet. The less energy you use and the more you switch from gas to electric, the less pollution your household generates — and that's great news for the whole world.
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