The passage of the Inflation Reduction Act earlier this year continues to spark buzz and speculation among contractors, builders, state energy officials, and, of course, homeowners. While the Department of Energy is still working on its guidance to states, enough information is available to give homeowners an exciting sneak peek into the kind of savings they can expect for increasing their energy efficiency (aside from the savings on utilities and increased resale value, of course).
First, the basics: The Inflation Reduction Act has allocated $9 billion for rebate programs that encourage homeowners to improve the efficiency of their homes. The funds fall under two major umbrella programs:
The $4.5 billion High Efficiency Electric Homes program, which will fund rebates for home electrification measures like heat pumps and induction stoves.
The $4.3 billion HOMES program, which will provide rebates that reward homeowners who reduce the energy consumption of their homes by a significant amount (15% or more).
Now, for the juiciest bits, we suggest you check out our infographic below. Share it with your friends. Add it to your home performance vision board. And of course, stay tuned as we continue to roll out IRA updates and recommendations here and on Green Door’s Facebook, Instagram, and Twitter.
