Let me ask you something: Have you ever had something in your home malfunction or break?
The answer is a resounding yes for most people, whether it be the power going out or an appliance falling apart.
Thanks to the Inflation Reduction Act, you don't have to soldier on anymore. You can remodel your house and replace old appliances for a fraction of the cost by getting a ton of money back. From who? None other than the U.S. government itself, Electrek reported.
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Should the government continue to give tax incentives for energy-efficient home upgrades? Click your choice to see results and speak your mind. |
Absolutely 💯 Basically, the IRA sets up ways for people to afford clean energy and transportation options — like solar panels and electric vehicles — that help stop the planet from overheating. It also sets aside $8.5 billion to give out to those who make eco-friendly electrification and energy-efficient purchases for their home, such as a new electric stove or breaker box.
These energy rebates are already available in several states, and a whole slew of others are waiting for approval, according to Electrek.
If your household's income is below a certain level for your ZIP code, then 100% of costs can be covered — up to $14,000. If it's above that level, 50% of costs can still be covered, also up to $14,000. The best part is whatever you qualify for kicks in right away when you make a purchase. There's no waiting around for your cash back, Electrek explained.
It's like a "free electric bank account with your name on it," the outlet reported.
Still, the whole thing can be a little overwhelming. Luckily, electrification nonprofit Rewiring America has a calculator and other tools to help you figure out exactly what you could buy and how much you could save, plus who has the best offer. Just provide a few basic details, and it'll take you off to the races.
Newly inaugurated President Trump has said he will roll back these incentive programs. Any official changes would require action from Congress, but if the free money on the table — and the boost to the planet it offers — is of interest to you, it could be wise to look into it sooner rather than later.
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