Tens of billions of dollars initially allotted toward clean energy funding are now facing uncertainty. President Trump has just frozen funding under the Inflation Reduction Act, an action that will likely be challenged in court, according to Canary Media.
The scoop
The Inflation Reduction Act is the U.S.'s biggest legislation against the climate crisis, offering homeowners financial incentives to make eco-friendly updates to their homes. However, now certain tax credits and rebates under the IRA face freezing.
Despite this move to undo the Biden-Harris administration's climate policy, some of the IRA funds have been obligated, meaning those tax credits and rebates are still available. One of those obligated funds includes the IRA's home efficiency and electrification rebates and incentives, reports Canary Media.
Homeowners can still earn up to $1,750 in rebates when they purchase a heat pump water heater. The savings don't stop there, though. Homeowners can also qualify for the $2,000 25C tax credit after installing a heat pump water heater.
By switching to a heat pump water heater, homeowners can significantly reduce their energy bills. In fact, you could save $550 each year after installing a heat pump water heater.
How it's helping
Heat pump water heaters are not only saving homeowners money on their utility bills but also reducing their environmental footprint.
Watch now: How bad is a gas stove for your home's indoor air quality?
Since heat pump water heaters are more efficient, they utilize less energy and therefore cut down on your household's pollution. Compared to traditional units, heat pump water heaters are two to three times more efficient.
For homeowners ready to make the switch, Cala offers smart heat pump water heaters that are highly customizable. Cala's heat pump water heaters are considered the "world's first intelligent" heat pump water heaters, meaning they use predictive technology to heat water when it's the cheapest and cleanest. As a result, with its optimized usage, you can save money while minimizing pollution.
When it comes to IRA incentives, it's best to act sooner rather than later. President Trump has stated he intends on removing these subsidies, though this would ultimately require an act of Congress. As a result, making the switch now could be the difference between thousands of dollars down the line.
|
Which of these factors would most effectively motivate you to buy a heat pump? Click your choice to see results and speak your mind. |
Lower energy bills 
What everyone's saying
Homeowners across the country are sharing their positive experiences after switching to a heat pump water heater.
"I love my heat pump water heater," wrote one TCD reader from Oregon. "It is helping us save money because it's more efficient, got the gas out of our house, and has worked like a charm."
"Heat pump water heaters cut down the monthly electric usage substantially, they are much more eco-friendly, and there are a number of tax rebates associated with them right now," shared another TCD reader from North Carolina.
Join our free newsletter for easy tips to save more and waste less, and don't miss this cool list of easy ways to help yourself while helping the planet.
Cool Picks
