What the IRA Means for Contractors
Program details:
The IRA creates two electrification and energy efficiency rebate programs - HEEHR and HOMES - that include rebates specifically designed to incentivize
contractors to install electric machines in low- and moderate-income (LMI) communities (HEEHR) and to perform energy-saving retrofits in disadvantaged communities (HOMES). For each qualifying HEEHR project, contractors may claim a rebate of up to $500; while for each qualifying HOMES rebate, contractors may claim a rebate of $200. More guidance on the program is forthcoming from the DOE.
Home Owner Managing Energy Savings Rebates (HOMES): Helps residents make their home more energy efficient, by offering up to
$4000 (up to $8000 for middle and low-income households) tax rebates to the residents that make upgrades that that cut their energy usage by at least 35%
High-Efficiency Electric Home Rebate Act (HEEHRA): Rebates to low and middle income families
to electrify their home, by installing heat pumps or electric driers.
Household rebates are capped at $14,000 and households cannot claim both rebates.
Want to learn more?
Click the link or contact your Larson rep.