From CNBC: 2024-04-22 15:44:58

The Home Energy Rebate program, a result of the Inflation Reduction Act, will provide up to $14,000 per household for energy efficiency upgrades. New York received the first approval, with $158 million initially. Eleven other states applied for the $8.8 billion in rebates, hoping to launch programs by next year.

Funding totaling $369 billion has been allocated towards climate change policies through the Inflation Reduction Act. The $8.8 billion in rebates is split between the Home Efficiency Rebates and Home Electrification and Appliance Rebates programs. New York’s application was approved, with states like Georgia, Oregon, Indiana, and New Mexico applying for both programs.

The Home Electrification and Appliance Rebates program offers max amounts for specific technologies like heat pumps and electric appliances. The program can provide up to $14,000 for low- to moderate-income households to encourage energy efficiency upgrades. Renters can qualify by communicating with their landlords about appliance purchases.

The Home Efficiency Rebates program is technology-neutral and rewards households based on energy savings through efficiency upgrades. Up to $8,000 can be awarded for significant energy reductions, with higher rebates available for low-income earners. Consumers are encouraged to use these rebates in conjunction with existing state and local utility programs.

Read more: Inflation Reduction Act home energy rebates may arrive soon