Ready for a home upgrade? The Inflation Reduction Act has set aside billions of dollars to help Americans adopt energy-efficient, money-saving technologies. Thanks to one handy tool, figuring out which incentives and rebates are available in your area doesn't have to be a chore.
The scoop
The Inflation Reduction Act, commonly known as the IRA, is the largest climate action investment in the history of the United States, so it's no surprise the law is over 700 pages.
However, there are tools that can save you from poring over the nitty-gritty details for hours on end, wondering how to best take advantage of the deals. One such tool comes from the nonprofit Rewiring America, whose free Incentive Calculator takes away the guesswork.
After you plug in a few simple details, including whether you rent or own, your ZIP code, and your household income, the calculator gets to work to discover the best discounts and incentives in your area.
Possible savings include 30% off solar panels, up to $7,500 off an electric vehicle, and essentially an $8,000 bank account to modernize your home.
How it's helping
In addition to saving people time and precious mental energy, tools like the Incentive Calculator can help consumers add significant chunks of cash to their bank accounts in the long run.
Qualifying items just need to improve energy efficiency — which, in turn, can save you thousands on utility bills every year. That includes induction stoves, Energy Star-approved washers and dryers, smart home systems, and weatherizing insulation.
Another perk of upgrading? Cleaner air. According to the U.S. Energy Information Administration, around 60% of the country's grid still runs on dirty fuels.
Renewables are a growing part of the mix, but upgraded appliances need less juice to operate, reducing health-harming pollution in the event your power plant is dependent on gas, oil, or coal. Electrifying your kitchen also prevents toxic fumes from spewing directly into your home.
What everyone's saying
Given the benefits of home electrification and other energy-efficient projects, it is easy to understand why tools like Rewiring America's Incentive Calculator and EnergySage's online marketplace have become so popular.
"Our insulation project cut our household energy use by 15%!" Jason C. from Madison, Wisconsin, shared with The Cool Down. "We're saving a lot of money, especially in the winter!"
"A portable induction cooktop is a great way to try out induction for a low cost and get used to the technology while improving indoor air quality," Lauren from Bend, Oregon, suggested.
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