*Households making 80% to 150% of an area’s median income can get back 50% of the cost of these projects, up to the limits for individual items and up to $14,000 total. Households making below 80% of the median income can get back 100% of the cost, up to $1,200 per year. See irs.gov for Inflation Reduction Act of 2022 details.
Electric heat pump clothes dryers are more efficient than conventional electric dryers and gas dryers, helping families save money on each load of laundry. The Federal Tax Credits provides rebates that can cover up to 100% of the costs of purchasing and installing a new electric heat pump clothes dryer, depending on household eligibility.
Electric stoves, including induction ranges, provide better energy efficiency and indoor air quality than gas stoves, helping families save money and keep unhealthy pollution out of their homes. The Federal Tax Credits provides rebates that can cover up to 100% of the costs of electric stoves, cooktops, ranges, and ovens, depending on household eligibility.
A heat pump provides both heating and cooling for homes, as a super-efficient alternative to furnaces and air conditioners. Installing a heat pump can save a family hundreds of dollars each year on energy bills. The Federal Tax Credits includes tax credits and rebates that can cover up to 100% of the costs, depending on household eligibility.
To help a home handle the load from new electric appliances, the Federal Tax Credits also includes tax credits and rebates to upgrade a home’s breaker box or electrical wiring.
The Federal Tax Credits will help more families never pay at the pump again, with tax credits up to $7,500 for new electric vehicles and $4,000 for used electric vehicles – saving families an average of $950 a year on fuel costs.
Support is available to install heat pump water heaters, which can be two to three times more energy efficient than conventional water heaters. The Federal Tax Credits includes tax credits and rebates that can cover up to 100% of the costs, depending on household eligibility.
The Federal Tax Credits provides tax credits and rebates for a range of home improvements that reduce energy leakage – keeping homes warmer in the winter, cooler in the summer, and saving money on utility bills. Windows can be responsible for 25-30% of heating and cooling energy use, and doors can leak significant amounts of energy as well. In addition to supporting upgrades of exterior windows and doors, the Federal Tax Credits can also cover the costs of home energy audits so that an inspector can identify the best improvement options.
The Federal Tax Credits provides tax credits and rebates for a range of home improvements that reduce energy leakage – keeping homes warmer in the winter, cooler in the summer, and saving money on utility bills. Insulation material can lower heating and cooling costs by up to 20%, and air sealing (like caulking and weather-stripping) save energy and improve air quality by keeping moisture out. In addition to supporting the upgrades themselves, the Federal Tax Credits can also cover the costs of home energy audits so that an inspector can identify the best improvement options.
When homes need to replace their heating or cooling systems, families can get tax credits for efficient heat pumps that ensure comfortable home temperatures. By doing the job of both a furnace and air conditioner, heat pumps work to keep homes warm in the winter and cool in the summer.
Working families will be able to use tax credits that make electric vehicles more affordable. Purchasing an electric vehicle (EV) can save families thousands of dollars on fuel costs over the life of their car. More families will never have to pay at the pump again.
When households need to replace appliances or make home repairs, they can use tax credits for energy efficient improvements that save them money in the long run. These efficiency improvements include upgraded windows, doors, insulation, and other home weatherization services; or highly-efficient heating and cooling appliances like heat pumps, central air conditioners, and water heaters.
As a member of the Neighborly family of home services companies, Mr. Electric is a trusted member of the local community that you can trust to provide you with safe, reliable, affordable electrical home services.
