If you're tired of cooking on an outdated gas or electric stove and want to snag major savings on an energy-efficient induction stove, now's your chance to get over $800 off when you upgrade.

The scoop

As the U.S. Department of Energy explained, homeowners can take advantage of an $840 rebate offered through the Inflation Reduction Act when they purchase a qualifying Energy Star-rated induction stove. For updates on the status of rebates in your state, check the Atlas Buildings Hub dashboard or your state's energy office website.

How it's helping

Induction stoves can be a significant upfront investment, but the rebate can help you reduce the price by a sizable chunk. Plus, since induction stoves are around three times more efficient than their gas counterparts, according to the DOE, you'll save significantly on electric bills. 

Induction cooktops utilize an electromagnetic field to heat cookware directly, with approximately 90% of the energy transferred to the food. Meanwhile, gas stoves lose about 40-55% of their heat energy to the air, according to Cornell University. And since induction stoves cook faster than gas or electric models, they reduce energy consumption even further. 

They're also much healthier than gas stoves, as the latter produce dangerous gases such as benzene and nitrogen dioxide that contribute to poor air quality and respiratory problems. And if you have children, induction stoves are the way to go, as they only heat up when a magnetic pan is placed on them and cool down almost instantly. As an added bonus, they're also easier to clean since they don't have raised burners.

If you rent or don't want to invest in a full-sized stove, you can always purchase a plug-in cooktop and reap the benefits of induction cooking, all for as little as $50.

While many of the federal tax incentives and rebates for energy-efficient upgrades will disappear by the end of the year, you can still claim those for induction stoves after 2025. However, if you're interested in saving more on your energy bills while helping the planet, you might consider installing solar panels to reduce your monthly bills to as little as $0, in some cases. The 30% tax credit will expire by Dec. 31, so make sure to complete installations by then to save thousands of dollars on a rooftop system.

EnergySage offers free tools to help you compare quotes from vetted contractors and save up to $10,000 on a solar purchase and installation, making solar energy affordable and simple to adopt.

What everyone's saying

Many homeowners have attested to the benefits of upgrading to induction stoves, such as one of The Cool Down's members. "A portable induction cooktop is a great way to try out induction for a low cost and get used to the technology while improving indoor air quality," they said.

Someone else asked if induction stoves are worth it in the "r/Cooking" subreddit, to which a user replied, "Gas isn't an option where I live so we replaced old glass top with induction and oh boy is it worth it. The speed to heat up and actually being able to control the temp like gas is amazing. For the boiling of water alone it's worth it."

Which of these factors would most effectively motivate you to buy an induction stove? Healthier indoor air 🏠 Superior cooking results 🍳 Helping the planet 🌎 I wouldn't buy an induction stove 🚫 Click your choice to see results and speak your mind.

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