A cheat sheet to the IRA's new rebate programs for home energy efficiency upgrades and weatherization
Canary Media unpacks the somewhat daunting range of benefits in the IRA's new rebate programs for home energy efficiency upgrades and weatherization. Anndyl CEO Kara Saul Rinaldi explains how these rebates can be stacked, allowing low to middle-income households to maximize savings.
Rebates from the two programs can be mixed and matched for distinct upgrades, according to Kara Saul Rinaldi, CEO and founder of the AnnDyl Policy Group. But tax credits and rebates can be combined for the same improvements; after subtracting the value of the rebate, you can use the relevant tax credit on the remaining cost.
Kara Saul Rinaldi, President and CEO of AnnDyl Policy Group
This article originally appeared in Canary Media on August 17, 2023
When President Joe Biden signed the Inflation Reduction Act into law one year ago, he did more than supercharge U.S. manufacturing and the deployment of renewable energy — he also gave households a big pot of money to electrify their own lives.
The climate law delivers a game-changing bonanza of clean energy incentives to consumers. With a historic $8.8 billion in funding for rebates, plus an array of generous tax credits that have no federal spending cap, there’s never been a better time to start plotting out a roadmap for ditching fossil-fuel-burning appliances and electrifying your home, according to Sage Briscoe, director of federal policy at electrification nonprofit Rewiring America.
After all, the climate law’s benefits don’t last forever. Unless renewed, the tax credits expire or ratchet down after 2032, and the rebates will only be available until their funding runs out.