Consumers may soon get access to a share of $8.8 billion in Inflation Reduction Act home energy rebates

[BumRushDaShow]

Source: CNBC

Published Mon, Apr 22 2024 2:22 PM EDT Updated 3 Hours Ago


Rebates tied to home energy efficiency and created by the Inflation Reduction Act may start flowing to many consumers within months.

The federal government is issuing $8.8 billion for Home Energy Rebates programs through states, territories and tribes, which must apply for the funding. The U.S. Department of Energy approved the first application for New York on April 18, awarding it an initial $158 million.

The DOE is hopeful New York will open its program to consumers by early summer, according to Karen Zelmar, the agency’s Home Energy Rebates program manager. The state has the fourth-largest total funding allocation, behind California, Texas and Florida.

The federal rebates — worth up to $14,000 or more per household, depending on a state’s program design — are basically discounts for homeowners and landlords who make certain efficiency upgrades to their property.

Read more: https://www.cnbc.com/2024/04/22/inflation-reduction-act-energy-rebates-may-soon-be-available.html

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Link to U.S. Department of Energy NEWS RELEASE - Biden-Harris Administration Awards First State Funding and Announces Progress on Historic $8.8 Billion Home Energy Rebate Programs to Lower Utility Bills

[Lovie777]

1. My electric bill was paid for this month...................................

[Think. Again.]

2. Go Joe!!! 🌊 !!!

[mitch96]

3. A Heat pump water heater looks tasty.. I'll look to see if it applies to TownHomes..nt

[Bayard]

4. I'd love to go solar here

[Woodwizard]

5. I have had solar for ten years.

It paid for itself in 7 years, it is a 9 KW system I installed another 4KW last year to offset the heat pumps I installed eliminating our propane heat.

If you decide to go solar I suggest not using the big companies like Sunrun they are predatory and expensive and if you have an issue down the road good luck. Unfortunately solar is now a money grab for a lot of these companies more interested in selling loans for overpriced systems while the actual components are close to 50 percent cheaper than when I got my original system.

Then you have the power companies lobbying to get rid of net metering, I am in NY we have one to one net metering credit, when I export more than I use the electricity I use overnight comes out of my KWH balance.

[Bayard]

6. Thanks for the info