Yesterday President Biden signed the Inflation Reduction Act (IRA), a tax, drug-pricing, and climate change bill passed through the reconciliation process. One of the components of the IRA is the newly created High-efficiency Electric Home Rebate Program which provides state energy offices with funds to give low and medium-income homeowners and landlords a rebate of up to $8,000 on qualifying changeovers to heat pumps and additional rebates to upgrade electrical panels, ventilation, and home wiring. While $4.3 billion has been appropriated for the rebate program, it will be up to individual states to make the rebate available to residents and potentially write additional requirements and limitations.

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