(AmericanProsperity.com) – New York has announced that they are launching a program that would offer homeowners fourteen thousand dollars in total rebates for adding energy efficiency upgrades to their homes. The rebate program is a part of the Inflation Reduction Act, which was signed by President Joe Biden. The law was for over eight billion dollars for consumers through Home Energy Rebates.
These financial incentives have helped consumers reduce or fully offset the cost associated with making their homes more energy efficient. These projects that can make their homes more energy efficient include air sealing, electric heat pumps, insulation, and electric stoves.
In New York, a program offers up to ten thousand dollars per low-income household, and consumers can access over twenty thousand dollars in total rebates for making these upgrades. Many states will roll out these rebates by the end of this year and each state, tribe, or territory must apply for federal funds.
As of the middle of June, fourteen states have applied for the Home Energy Rebates funding according to the U.S. Energy Department. They expect “several more states” to apply and make the rebates available for their residents.
The Home Efficiency Rebates program and the Home Electrification and Appliance Rebates (HEAR) are the programs under the rebates. The HEAR program, as of now, is only available to middle and low-income families. Low-income households can actually offset one hundred percent of their project costs, which could be over twenty thousand dollars.
The rebates will be delivered via contractors that will quote the project’s cost with the rebates applied according to Harris, of the New York State Energy Research and Development Authority.
The Home Efficiency Rebates program is technology-neutral and hasn’t fully launched yet. Applications are coming in and the rebates would be tied to how much energy a household saves via the energy-efficient upgrades they have in place. This would be available to all households regardless of how much income they make.
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