State Heat Pump Incentives Get a Major Boost in the Inflation Reduction Act (Repost from HARDI)
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.
Read the rest of this article on HARDI.