Benefits for going electric at home
Recently the IRS and the Department of Energy have started to reward homeowners as well as some renters for electrifying their homes.
Through a series of rebates and tax credits, consumers will experience savings when making qualifying electrification purchases.
For example, air source heat pumps for space heating/cooling and heat pump water heaters (HPWH) will be eligible for a tax credit of up to $2,000 per year, and electrical panel upgrades installed in conjunction with a heat pump or heat pump water heater (HPWH) will be eligible for a tax credit of up to $600.
Major U.S. companies including Airbnb, Redfin, Lyft, Propel and others have joined the non-profit Rewiring America in a new consumer outreach and education campaign to connect American households with Inflation Reduction Act (IRA) rebates and tax incentives to go electric.
