Climate Bill to Boost Energy Efficient Homes Through Government Incentives
Approximately $100 billion in government funding is available for electrification programs and clean-energy upgrades.
According to the Morning Brew, if you’re a homeowner, here are some programs to know:
- The Energy-Efficient Home Improvement credit: Households can claim a tax deduction of up to 30% for upgrades that save energy, such as updating electrical panels, adding insulation or more energy-efficient windows, and installing heat pumps (here’s what those are).
- Residential Clean Energy credit: The bill resurrects and beefs up a credit for homeowners installing renewable energy systems like rooftop solar panels. The incentives will cut the cost of a typical $20,000 solar installation by as much as $6,000, per the NYT.
- Rebates for high-efficiency appliances: Low- and middle-income families can claim rebates up to $840 for a greener stove or oven and $8,000 for a heat pump for space heating or cooling.
