Heating and cooling your home is already expensive, but the Inflation Reduction Act (IRA) has several rebates and credits you may qualify for, helping to reduce the costs. The following are two rebates that are part of the IRA that you may find of interest.
Home Owner Managing Energy Savings Rebate
The Home Owner Managing Energy Savings (HOMES) Rebate Program, which is run through the state, gives you money back for upgrades that reduce your overall energy consumption. The overall reduction totals determine how much of a rebate you can qualify for, but you’ll need to demonstrate the energy reduction using either modeled or measured savings.
The program offers rebates of at least $2,000 (or 50% of project cost) for modeled savings of 20% or more. For measured savings, it starts at $2,000 for energy savings of 15% or more. For low and moderate-income families, the rebates start at $4,000 and cover up to 80% of the project costs, whichever is less.
High-Efficiency Electric Home Rebate
The High-Efficiency Electric Home Rebate Act (HEEHRA), which is also available through the state, is specific to low- to moderate-income families, defined as households making less than 150% of your area’s median income. It offers savings for specific electrification projects. For example, you may qualify for up to $8,000 for an HVAC heat pump, $840 for an electric stove, and $1,600 for an insulation project.
Contact your state’s government offices to learn more about what IRA rebates may be available where you live and how you might qualify. Batey Brothers Heating & Cooling can help keep homes comfortable throughout the year. Our NATE-certified technicians provide heat and air conditioning installation, maintenance, and repair, indoor air quality solutions, and more to make sure HVAC systems are running as they should. Call to schedule your consultation with one of our friendly experts.