At the start of 2023, several home energy tax credits became available for consumers. This includes the Energy Efficiency Improvement Credit, often referred to as the 25C tax credit, that can save you 30% on qualifying upgrades. Many of these upgrades also qualify for home energy rebates funded by the IRA.
Previously known as HOMES, the Home Efficiency Rebates Program lets states and territories provide rebates to households for whole-house energy-saving retrofits.
Previously known as the High-Efficiency Electric Home Rebate Act (HEEHRA), the Home Electrification and Appliance Rebates Program helps low- and moderate-income (LMI) households save on energy-efficient electric home upgrades.
The deadline for applications is January 31, 2025. States or territories must provide notice of their intent to apply by August 16, 2024, otherwise their allocation will be redistributed to other State Energy Offices that applied for funding. It’s important to keep in mind that the application process is complex, and it will likely be several weeks or months before many states and territories are ready to submit their program applications for DOE approval.
The IRA modifies and extends existing tax credits through 2032 for residential homeowners. Such a long window provides ample opportunity to take advantage of all the ways to save. For example, the Energy Efficiency Home Improvement Credit has increased to a 30% credit (up to $1,200 per year) that can be applied to projects such as rooftop solar, home energy audits, efficient water heaters and heat pump water heaters, central air conditioning and more.
It’s no secret that the future of transportation is being shaped by electric vehicles. The IRA will accelerate this transition through tax credits and grants. Here are some of the most notable ones:
There are several provisions focused on decarbonization or greenhouse gas (GHG) reduction.
With nearly $370 billion in funding for climate and energy initiatives there are a lot of exciting opportunities in the bill. A few other notable areas include:
The recent unveiling of the Inflation Reduction Act (IRA) marks a pivotal moment for the United States and our planet. This landmark piece of legislation encourages us to transition towards a new era of energy efficiency and decarbonization. It’s an exciting first step on the journey to making our world more environmentally sustainable.
Austin, TX (August 23, 2022 )—New York fleet managers presented plans to electrify 285 fleet vehicles last month during the final workshop of a unique pilot program led by CLEAResult, New York State Electric & Gas (NYSEG), and Rochester Gas and Electric (RG&E).
