It's time to replace your old windows — and save money while doing it. Thanks to the Inflation Reduction Act (IRA), you can receive a tax credit for updating your drafty windows.
The IRA is the largest government action aimed at combating rising global temperatures. In 2022, Congress passed the IRA to incentivize homeowners to make eco-friendly updates to their homes.
Based on the different tax credits and rebates available, homeowners can save more than $8,000 after making certain changes. One of these updates is replacing your old windows.
Drafty windows waste energy and money. In fact, The Energy Store estimates that your drafty windows can be costing you $300 per year in energy losses.
Under the IRA, you can earn up to $1,600 when you weatherize your home. Sealing leaky ducts, updating your home's insulation, and upgrading your heating and cooling system all fall under this category.
By helping Americans upgrade their homes, the IRA is encouraging more homeowners to transition toward clean energy. As more Americans make environmentally friendly changes, the more the country as a whole can help cool down the planet.
Another way you can upgrade your home and save money is by switching to electric appliances. Electrifying your home is one of the best ways to improve your house's efficiency while reducing energy costs.
To learn more about different tax credits and rebates, check out Rewiring America's free online tool. In just a few seconds, you can discover available tax incentives and find contractors in your area.
When it comes to tax credits under the IRA, it's best to act sooner rather than later. Moving forward, President-elect Trump has stated he plans on eliminating the subsidies under the IRA. As a result, you may not be able to save thousands of dollars while upgrading your home if you wait too long.
🗣️ When was the last time you replaced your windows?
🔘 In the last five years 😎
🔘 In the last 10 years 🙂
🔘 In the last 20 years 😓
🔘 I never have 🥵
🗳️ Click your choice to see results and speak your mind
However, it's important to note that while the IRA's future is uncertain, any major changes would require an act from Congress.
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