Ready to make your home more energy-efficient but don’t know where to start? Let’s talk about how you can do it andsave some cash along the way. From tax credits to rebates, there are plenty of incentives out there that make upgrading your home not just eco-friendly but wallet-friendly too. Here’s the rundown on the best home energy incentives you can tap into right now.
If you’re a homeowner planning to go green, the federal government is ready to lend a hand. The Inflation ReductionAct (IRA) of 2022 breathed new life into home energy tax credits, extending and expanding the incentives to encourage more households to adopt energy-efficient solutions. Here’s a breakdown of what you can score:
This one’s a catch-all for upgrades that make your home more energy-efficient. Got plans to swap out those drafty windows or add insulation? You’re in luck! Here’s what you get:
Pro Tip: Upgrading your HVAC system could get you an additional credit boost. Heat pumps and biomass stoves are eligible for a maximum of $2,000.
Got your eye on solar panels, geothermal heat pumps, or small wind turbines? The Residential Clean Energy Credit is your golden ticket. Here’s the lowdown:
Why it’s great: Unlike the previous tax credit which was set to phase out, this new extension means you have a solid window of opportunity to cash in on clean energy.
Federal incentives are great, but don’t forget to check out what’s available on the state and local levels. Many states and utility companies offer rebates and tax breaks for homeowners making energy-efficient upgrades. Here’s a quick peek at what might be up for grabs:
Most states have their own programs for energy efficiency upgrades, often in the form of rebates. For instance, California offers rebates for installing solar panels, battery storage, and even electric vehicle (EV) charging stations at home. Programs vary by state, so use resources like the Database of State Incentives for Renewables & Efficiency(DSIRE) to find what’s available in your area.
How to find yours: Head to DSIRE’s website and plug in your zip code for a personalized list of available programs.
Your utility company could be sitting on a treasure trove of incentives. Many power companies offer rebates for energy-efficient appliances, smart thermostats, and even energy audits.
Beyond rebates and tax credits, there are other programs out there that pay you for going green.
If you’ve got solar panels, net metering is a sweet deal. It lets you sell excess energy back to the grid and get credits on your utility bill. Most states have net metering programs, but the rate you get for your energy varies depending on your local utility company.
In some states, solar homeowners can earn SRECs for the energy their solar systems produce. You can sell these certificates to utility companies, which are required by law in some states to obtain a certain amount of their power from renewable sources.
Sometimes it’s the little things that make a big difference. Upgrading to energy-efficient appliances can significantly lower your energy consumption and, in some cases, qualify you for rebates.
Heat pumps are a hot topic right now—pun intended. Thanks to their energy efficiency, many states and utility companies offer rebates for installing high-efficiency heat pumps in your home.
Investing in a smart thermostat can help you cut down on energy use and may qualify you for a rebate. Many utility companies offer instant rebates when you purchase an Energy Star-certified thermostat.
The incentives landscape can be a bit of a maze, but resources like DSIRE and Energy Star can point you in the right direction. Research what’s available in your area and figure out how to maximize your savings while giving your home a green upgrade.
From federal tax credits to state-specific rebates, there’s no shortage of incentives for homeowners ready to make the switch to energy efficiency. By taking advantage of these programs, you’re not just saving money—you’re also making a meaningful impact on the environment. So whether you’re installing solar panels, upgrading to a heat pump, or just swapping out old appliances, there’s an incentive out there that can help you along the way.
Remember: sustainability isn’t just a buzzword. It’s a lifestyle change that can benefit your wallet and the planet. So, get on board and start turning your home into an energy-efficient haven.
EarthHero and The Green Office are great online marketplaces to find sustainable products that align with your eco-friendly home goals. Now, go green, and don’t forget to cash in on those sweet, sweet incentives!
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Published October 2, 2024 3:31PM
Eveelife is an eco-oriented lifestyle platform that helps consumers make more purposeful choices about how they live and what they consume. We do it by curating content and products that help them make more conscious, carbon-free choices while amplifying their EV ownership experience.
