A high-tech appliance offering faster cooker times is set to take over U.S. kitchens. Grand View Research reported that induction ranges are projected to experience the fastest compound annual growth rate in the North American cooker market at 8.5% from 2023 to 2025.
"Induction range cookers are rapidly becoming popular in North America due to their efficiency, safety, and eco-friendly benefits," the consulting firm wrote.
Whereas traditional cooktops rely on open flames or metal coils, induction ranges use magnetic fields to heat cookware directly, resulting in better energy transfer. Induction technology is also more affordable than some might believe. Plug-in burners start as low as $50.
"The precise temperature control, combined with the absence of flames or exposed heating elements, makes induction especially appealing for families with children or elderly members, highlighting its safety and ease of cleaning," Grand View Research explained.
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💡Discover the induction option that’s just right for your needs and your home
A doctor with nearly four decades of experience shared how upgrading her 84-year-old mother's stove to induction was one of the best decisions she made. In addition to alleviating her fears about an accidental fire, she could rest easy knowing a gas stove wasn't releasing toxic air pollution into her mother's home — even if the stove was turned off and not in use.
Less wasted energy also means induction cooktops can lower your utility bills, and there are plenty of options available on the market. Portable cooktops are an affordable choice and perfect for renters. You may also qualify for up to $840 off an induction range.
The federal program provides rebates for energy-efficient home upgrades, including induction ranges and heat pumps, and runs through 2031 or until funds run out.
However, if you plan to pair your induction cooktop or heat pump with solar to maximize your energy savings from electrification, the 30% tax credit for solar purchases expires Dec. 31.
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EnergySage will connect you with vetted installers in its trusted network for free and help you save up to $10,000 on solar installations. While purchasing solar panels isn't for everyone, Palmetto's LightReach leasing program makes the benefits of solar accessible for $0 down.
Meanwhile, Mitsubishi can help you find the right heat pump for your home. Heat pump tax credits also sunset at the end of the year, so acting now may be the most prudent course of action. All in all, you could save thousands by stacking rebates with tax credits before they expire.
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