Updating your home with eco-friendly features used to only be an option for the wealthy. But now the U.S. government is making those upgrades more affordable than ever through thousands of dollars in rebates.
The Inflation Reduction Act, the largest Congress-approved effort to date to combat our planet's overheating, officially passed in 2022. Elements of it — such as a $7,500 electric vehicle instant rebate program — have been live for well over a year, but some of the best elements are newly available in many states and territories.
In a press briefing, climate expert panelists such as Bill McKibben explained how the IRA law creates "an $8,000 bank account for every American household" to help people integrate clean energy into their homes. These rebates help families lower their monthly utility bills and receive cash back on home improvements and energy-efficient appliances, and in reality, the full might of the IRA can go even further than just $8,000.
Up to $8,000 in home efficiency savings will be available when you reduce your home's energy consumption by at least 20% — which is surprisingly easy with the types of modern upgrades available. The largest rebates are going to low-income households; however, all households may potentially be eligible for the savings.
The home efficiency rebates are available in Wisconsin and should roll out more widely over the next year, but homeowners in several states and territories can already start getting government rebates of up to $14,000 for more straightforward home electrification and appliance upgrades, such as Energy Star electric heat pumps, electrical panels, electrical wiring, and insulation.
Taking advantage of these rebates is one of the best ways for homeowners to invest in their futures, save money, and support the clean energy transition for a cooler planet.
If you could use a little guidance on which tax incentives to look into and how to make home updates more affordable with the best contractors, check out the non-profit Rewiring America's free tools and resources.
In an August 2024 Facebook post, President Joe Biden stated that 3.4 million Americans took advantage of clean energy and efficiency home upgrades in 2023 alone.
"And it is spurring job-creating investments in communities across the country," Biden wrote. "Since I took office, companies have announced $900 billion in clean energy and manufacturing investments in the U.S. — including $265 billion in clean energy investments since I signed this bill."
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