Are You Ready to Get $14000 for Home Upgrade?
Yes $14000 for your home upgrade. You read correctly.
US Government Planning to give $14000 as rebate to make your home energy efficient
You can use this rebate to install heat pumps, buy stoves, dryers etc
40% of carbon emission is from households. So Govt believes these incentives will help to lower fossil-fuel emissions
According to NRDC two rebate programs will be implemented
The HOMES Rebate Program and
High-Efficiency Electric Home Rebate Act (HEEHRA)
AS per HOMES Rebate Program Home Owners those who cut their energy usage by 35% can get $4000 rebate
AS per HOMES Rebate Program for 35% energy saving low and middle income households can get $8000 rebate
AS per HEEHRA Program low and middle income households can get rebate for installing heat pumps, electric dryers etc
The Maximum Rebate per household is $14000 and You can't receive 2 rebates for same upgrade
HEEHRA Program Rebates
$8000 for a heat pump
$4000 for an electric service upgrade
$2500 for an electric wiring
$1600 for insulation and ventilation
$840 for electric stoves, cooktops, ovens etc
The Inflation Reduction Act expands a homeowner efficiency tax credit which covers $1200 per year
You can't claim the rebates or tax credits now
There are still number of months to go for these programs to go live. Now you can take two steps to get ready
Schedule Energy audit for your home to understand how you can make your home more energy efficient
1
Communicate with contractors to line them up for projects once rebates are available
2
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