You may have heard that many money-saving home upgrade tax credits under the Inflation Reduction Act are expiring at the end of the year, but there's still time to take advantage.
The Washington Post reported that despite dwindling federal funds, a number of states, including California, New York, Maine, and New Mexico, are continuing their rebate programs, which help offset the cost of heat pumps, heat pump water heaters, induction stoves, weatherization, and other energy-efficient home upgrades.
"This money is legally obligated to every single state and territory that has applied," David Friedman, senior policy adviser for Rewiring America, told the Post.
He added that every state has applied for the program with the exception of South Dakota. "States are moving forward, and nothing should stop them."
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Such upgrades help save money on energy and are better for the planet. Induction ranges, which come with an $840 rebate under the IRA, also help reduce indoor air pollution — traditional gas stoves release a toxic mix of gases that are harmful to people, while induction stoves do not. They also cook food faster, saving you time in the kitchen.
If you can't afford to make larger upgrades like this or if you live in a state that isn't currently distributing IRA funds, you can still take advantage of other solutions, like plug-in induction burners, which start at around $50. Portable induction burners are also a great solution for renters.
Several state-based rebate programs are available as well. For instance, North Carolina and Georgia residents can take advantage of their states' rebate programs right now, while Tennessee, Florida, and South Carolina are in the process of launching their programs, according to the Southern Alliance for Clean Energy.
"If you've been considering an energy upgrade — whether it's installing an induction cooktop or an entire solar system — don't wait," the organization urges. "H.R.1 (One Big Beautiful Bill Act) has shown that the opportunity to save money while contributing to a cleaner future won't last forever."
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