Get ready to tap into a wave of energy-efficient home renovation rebates that are about to hit the scene. These rebates are a direct result of the $9 billion federal program introduced by Congress under the Inflation Reduction Act.
For details on how these rebates and tax credits can be applied during each tax year, refer to the White House’s Clean Energy website.
Rooftop Solar
Harness the sun’s energy to power your home with clean electricity and save big on utility bills.
- Tax credits cover up to 30% of the installation costs.
- Average family will save $300/yr or $9,000 over the life of the system.
Clothes Dryer
Electric heat pump clothes dryers are more efficient than conventional electric dryers and gas dryers, saving you money on each load of laundry.
- Rebates cover up to 100% of the costs of purchasing and installing a new electric heat pump clothes dryer.
- Eligibility based on household income.
Electric Stove or Oven
Electric stoves provide better energy efficiency and indoor air quality than gas stoves.
- Rebates can cover up to 100% of the costs of electric stoves, cooktops, ranges, and ovens.
- Eligibility based on household income.
Breaker Box
Tax credits and rebates are available to upgrade a home’s breaker box and wiring to accommodate the increased electrical demand resulting from the addition of new electric appliances.
Electric Vehicle
Never pay at the pump again.
- Tax credits up to $7,500 for new electric vehicles and $4,000 for used electric vehicles.
- Save an average of $950 a year on fuel costs.
Windows & Doors
Reduce energy leakage – keeping homes warmer in the winter, cooler in the summer, and saving money on utility bills.
- Claim up to $1,200 in credit each year for adding insulation or installing efficient windows and doors.
- Special credit of as much as $2,000 for electric heat pumps that provide super-efficient heating and cooling.
- Claim a credit of up to $150 for a home energy audit conducted by an inspector.
Heat Pump Water Heater
Heat pump water heaters can be two to three times more energy efficient than conventional water heaters.
- Tax credits and rebates can cover up to 100% of the costs of heat pump water heaters.
- Eligibility based on household income.
Heat Pump
Installing a heat pump, a super-efficient alternative to furnaces and air conditioners, can save you hundreds of dollars each year on energy bills.
- Tax credits and rebates can cover up to 100% of the costs of heat pumps.
- Eligibility based on household income.
Armed with these insights, you're ready to optimize your investments by leveraging upcoming rebates and energy-efficient upgrades. Here's to a prosperous journey in the ever-evolving landscape of real estate.
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