Although some federal tax credits for environmentally friendly home upgrades will expire at the end of this year, there is still money available for those homeowners who want to make energy-efficient improvements.
As Utility Dive reported, a dozen states have already launched rebate programs with funds originally allocated through the Inflation Reduction Act, and all states except South Dakota have applied for funding.
Despite the budget bill that was signed into law this summer, the $4.3 billion made available for the Home Efficiency Rebates program, or HOMES, is expected to remain until Sept. 30, 2031, or until the money runs out. This program allows homeowners to get up to $8,000 off projects that "significantly reduce" energy usage.
"Georgia is very active — they're having great success with their rebate program," David Terry, president of the National Association of State Energy Officials, told Utility Dive. "Indiana had their program negotiated and approved just before the new administration took office, and launched [in May], and that seems to be going well. And certainly the other states, they're going through the funds pretty quickly."
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Many other states, Terry added, are just waiting on final approval from the Department of Energy.
These rebates can be allocated for a number of uses, but few are as exciting as an induction stove.
By using a magnetic current to generate heat, instead of burning dirty fuels like natural gas, induction stoves manage to boil water faster than gas, without producing any of the toxic fumes. They also stay cool to the touch, making them safer and easier to clean, and are more energy-efficient, so they cost less to operate.
Sadly, the $8,000 available through HOMES doesn't mean you can get an $8,000 stove for free. However, it would allow an induction stove to be part of a larger home upgrade that could qualify for the rebate. Otherwise, another similar program, the Home Electrification and Appliance Rebate, allows for up to $840 off such a cooktop.
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If purchasing a new stove isn't in the cards right now, you can still take advantage of induction technology. Plug-in burners offer many of the same benefits as a full stove but can fit on a countertop, making them a perfect choice for renters or those on a budget. The price can also fit into most budgets, as they start at just $50.
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