TL/DR –
The Inflation Reduction Act (IRA), signed into law by President Joe Biden in August 2022, provides incentives for Americans to make energy-efficient home improvements. The legislation, which allocates nearly $400 billion, including $8.8 billion for home energy rebates, is aimed at supporting a transition to cleaner, more energy-efficient technologies. The IRA makes these upgrades more accessible, helping to reduce utility bills, create healthier air, and contribute to a cleaner environment by reducing reliance on expensive and polluting dirty fuels like oil and gas.
The Inflation Reduction Act: A Guide to Accessing Benefits
The Inflation Reduction Act offers $8,000 in incentives for Americans to implement home improvements. Here’s how to take advantage of these credits and incentives.
What is the Inflation Reduction Act?
The Inflation Reduction Act, or IRA, is a legislation supporting a transition to cleaner, more energy-efficient technologies. The nearly $400 billion act allocates $8.8 billion for home energy rebates. Many Americans have already benefited from solar panels and electric vehicles incentives.
The rebates are now available in New York and seven other states, with others preparing their applications or awaiting approval.
Why is the IRA important?
The IRA aids in making energy-efficient upgrades more accessible, leading to reduced utility bills, better air quality, and less environmental impact. Most US power derives from expensive and polluting fuels like oil and gas. By upgrading to more efficient appliances, power plants work less, reducing pollution and energy costs. Notably, modernizing your home can improve indoor air quality.
How to find available incentives
Rewiring America simplifies finding suitable incentives for homeowners and renters. Its free tools allow users to filter by household size, income, and tax filing status. After calculation, users can see projected savings and receive details on contractors and next steps.
Join our free newsletter for tips to save more, waste less, and be eco-conscious.
—
Read More US Economic News