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Looking to renovate your kitchen? You can claim $840 in government incentives for a new stove

The financial benefits are attractive, but the perks do not end there.

The financial benefits are attractive, but the perks do not end there.

Photo Credit: iStock

When the time comes for a kitchen upgrade, consumers must carefully consider all of their options. 

Is the white backsplash a good look, or is the cream option better? Should the countertops be granite or marble? Is an electric induction cooktop worth it, or are gas options more economical?

While the design aspects of a renovation are up for interpretation, there is a clear better option in the debate between electric induction or gas stoves. 

Gas stovetops are more expensive and complicated to install than coil or radiant electric stoves. While electric induction cooktops might be even pricier, the U.S. government offers incentives that reward consumers who make the switch, according to the IRS.

The scoop

Upgrading the home with energy-efficient and clean appliances can leave consumers with better indoor air quality and a sizable tax credit or rebate. 

According to the U.S. Department of Energy, when a consumer switches to an approved electric induction cooktop, they are eligible for a Home Electrification and Appliance Rebate, which could be up to $840 because of the Inflation Reduction Act.

To claim the rebate, consumers should research their state's specificities on the Department of Energy's rebate portal, as product eligibility is determined by the state. Certain Energy Star-certified appliances are eligible.

Once the approved appliance is installed, an application can be made for the rebate. Depending on their localities, buyers are eligible for this rebate if they are having induction or electric stovetops installed in a new home, are choosing electric as a replacement for a gas or gas-electric stove, or if the stovetop is their first purchase of an electric range. 

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The financial benefits of installing an electric or induction stovetop are attractive, but the perks do not end there.

Induction appliances, according to the U.S. Department of Energy, can be three times more efficient than gas and up to 10% more efficient than conventional electric. They cook faster than gas stoves and can save money on energy bills. 

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Additionally, induction stovetops, which can be quite affordable (plug-in versions start at $50), do not irritate the respiratory system as gas stovetops do by releasing harmful fumes directly into your living space. Like induction cooktops, electric stoves are better for the environment and indoor air quality — but the benefits of induction are hard to ignore, giving this next-gen tech the edge in the eyes of home cooks and professional chefs alike.

What everyone's saying

Journalist Grace Dean provided a review of induction cooking for Tom's Guide and noted: "It turns out that switching to induction was the best thing I ever did. I'm a total convert."

Elsewhere, a kitchen designer took to YouTube and said: "Because they're only heating up the cookware, the surface itself does not get hot. That's why you can install these into porcelain and other materials like that to give you a really sleek and cool look, an invisible cooktop."

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