If your friends all upgraded their homes to be more energy-efficient and eco-friendly, would you do it, too?
If your friends were the millions of Americans who have already received thousands from the government for these home energy upgrades you probably would. The good news is, you still can, and it's easier than you might think.
Enacted in 2022, the Inflation Reduction Act is the United States government's largest-ever investment in climate action. Since its passage, it has been providing rebates for eco-friendly actions such as upgrading to an electric vehicle, installing solar panels, and swapping out gas stoves for induction cooktops.
Electrifying your home, vehicle, and appliances is one of the best ways to lower bills while also reducing your carbon footprint.
Energy-efficient appliances don't produce the pollution that appliances fueled by dirty energy such as gas and oil do, and that negatively impacts our health. Gas stoves, for example, release fumes that have been linked to an increased risk of asthma and are known to cause cancer.
The gases created by these appliances also contribute to the overheating of our planet, the effects of which threaten our communities and global food supply.
While the decision to upgrade may seem simple, upfront costs for these swaps can prohibit even the most willing from being able to make them. Cue the IRA, the rebates from which could put up to $14,000 back into taxpayers' pockets.
As detailed on its website, a range of Energy Star-certified products qualify for tax credits under the IRA. These products include heat pumps, certain weatherizing features such as attic insulation and sealing, and new windows, among others. Other appliances such as eco-friendly washers and dryers, stoves, and ovens may also qualify.
Energy Star also points out that you don't have to make the upgrades all at once. You might even get more money back if you space them out.
If you're ready and able to join the millions of Americans saving thousands of dollars by taking steps to safeguard the health of their homes and their planet, companies like the nonprofit Rewiring America can help make the process as easy and profitable as possible.
Whether you rent or own, Rewiring America's free savings calculator will help you determine where to start and will then connect you with trusted contractors and expert advice to ensure the transition is as clean as the new appliances you're installing.
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