Here’s How to Find Out How the Inflation Reduction Act Can Help You!

The Inflation Reduction Act (IRA) was passed last year by Congress and it is a big deal not only for the climate but for consumers as well.

The IRA provides rebates and tax credits to help you buy an electric vehicle and to help electrify throughout your house. Electrification is vital for reducing our dependence on fossil fuels which contribute to global warming and volatile price fluctuations. These tax credits and rebates from the IRA will be available for the next 10 years. They cover everything from home weatherization for energy efficiency, to heat pumps, to solar installations, and to hot water heaters. There are programs for renters and low-income folks, as well.

A good resource for information on the IRA can be found at Rewiring America. On this website you will find at the very top of the Home Page: “Your Guide to the Inflation Reduction Act” which is downloadable and has valuable suggestions and guidance about how to plan and finance your energy future.

It will be important to plan your electrification process. Although tax credits will be available for 2023, rebates may not be available until near the end of 2023 or early 2024 because the rebates will be distributed by state energy offices. Each state must set up the system they will use.

Some other programs are still in the development stages. It will be important to plan the timing of your electrification projects in order to receive the greatest savings offered by the IRA. These resources will help you find out how and when you can save!