More states ready to offer Inflation Reduction Act energy rebates | Wilnesh News

New York is launching a program that offers homeowners total rebates of up to $14,000 to upgrade their properties’ energy efficiency, and more states are expected to follow suit before the end of the summer.

The rebate programs are part of the federal Inflation Reduction Act, the largest climate legislation in U.S. history, to be signed by President Joe Biden in 2022.

Law sets aside $8.8 billion for consumers through two channels Home Energy Rebates program.

State and federal officials say financial incentives help consumers reduce or completely offset the cost of upgrades to make their homes more energy efficient, thereby reducing carbon emissions and reducing homeowners’ future energy bills.

For example, such projects might include the installation of air seals, insulation, electric heat pumps, and electric furnaces.

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The state launched a partial rebate program on May 30 to provide up to $14,000 in federal funds to low-income families.

when with fledgling national plan is called Empowerment+ Doreen Harris, president and CEO of the New York State Energy Research and Development Authority, said the program provides rebates of up to $10,000 per low-income household, and consumers can receive up to $24,000 in total savings for energy efficiency upgrades. Discount.

seventeen states Already applied Home energy rebate funding will be eliminated effective June 14, according to the U.S. Department of Energy. New York is the first region to offer consumer funding.

DOE expects “more states” to Offer rebates “From now until September,” it said. The agency has approved applications submitted by California and Hawaii in the final stages before the rollout.

Kara Saul Rinaldi, CEO and founder of AnnDyl Policy Group, a consulting firm specializing in climate and energy policy, said the New York launch “is a milestone.” “Next year we will see these programs rolled out across the United States.”

New York was initially approved for federal funding to low-income single-family (one to four units) households. Their income must be 80% or less of their own area median income To confirm.

The HEAR program has a maximum amount limit for each project. For example, New York State pays the following maximum federal rebates:

• Air sealing, insulation and ventilation: $1,600
• Electrical service upgrade (distribution box): $4,000
• Wiring upgrade: $2,500
• Heat pump water heater: $1,750
• Heat pump: $8,000

Low-income families are eligible to offset 100% of project costs, up to a total of $24,000 in federal and state funding.

Harris of the New York State Energy Research and Development Authority said these rebates are provided through contractors, who will report project costs to consumers and apply the rebates. NYSERDA has a Qualified Contractors Directory Who can make such upgrades.

Harris said New York aims to launch the second phase of the HEAR program in the fourth quarter of 2024.

If approved by the Department of Energy, she said, the state will expand the rebate program in a number of ways: Moderate-income residents (defined as between 80 and 150 percent of area median income) will be able to take advantage of the rebate program; Multifamily homes; and the purchase of appliances such as Energy Star-rated electric stoves and electric heat pump dryers, which can be purchased at the retailer’s point of sale.