The Inflation Reduction Act (IRA) of 2022 goes beyond tackling the recent challenges of the U.S. economy, like health care costs or the tax code, and includes laws aimed at increasing affordable access to clean energy. The purpose of these news laws is to significantly reduce U.S. greenhouse gas pollution levels by 2030. Starting this year, American homeowners and renters can benefit from tax credits and upfront discounts designed to increase access to clean technology.
Discounts are available for the purchase and installation of appliances, with the discount coming directly from the manufacturer or contractor. Items qualifying for savings include electric stoves, electric panels, and appliances that utilize heat pump technology.
Tax credits are available toward the purchase and installation of specific items approved for the electrification of your household. Items or projects qualifying for credit include new & used electric vehicles, heat pump powered home systems, and the weatherization of your home.
Some discounts and credits are available now. The rest are projected to be available later this year and will be available over the next 10 years. Use the IRA Savings Calculator to estimate the household electrification incentives you may qualify for.
Government Resources
Rosenberg, Joel. Electrify Everything in Your Home: A Guide to Comfy, Healthy, Carbon-Free Living. 1st ed., 2021.
Wyent, Cora, et al. Electrify My Government: How a federal government-wide electrification campaign will meet our emissions goals. 2022.
Your guide to the Inflation Reduction Act: Everything you need to know to maximize your savings.