The Inflation Reduction Act is one of the most important federal environmental policies that was passed into law in August of this year to address the current climate crisis. This 10-year plan is currently the largest investment in U.S. History to positively impact people and planet.
Under this extensive plan, homeowners and business owners can anticipate instant rebates, tax credits, or subsidized energy efficiency improvements for applicable retrofits and additions, including heat pumps, better insulation, windows, sealing air leaks, and more.
HOMEOWNERS
From home improvements, the percentage of the overall utility bill cost reduction will determine the total rebate amount. With a 35% or more bill reduction due to the improvements, homeowners can receive a rebate of up to $8,000, for lower income families. According to a study done by Green Homeowners United, over 600,000 homes in Wisconsin alone are eligible for income-based home rebates under the Inflation Reduction Act. You can submit your information here to learn more about current and upcoming rebates and upgrades.
In addition, a partnership between Slipstream and EEtility encourages the Pay as You Save (PAYS)® model where the upgrades and retrofits can be added at no cost to the homeowner or customer, and the utility makes the initial investment and recovers expenses from a tariff on the customer’s energy bill. You can learn more about this partnership with local utilities and customers here.
If you’re interested in seeing a detailed case study about the various green home improvements available, please see this article by Lisa Geason-Bauer of Evolution Marketing on how she updated her home to become more energy efficient.
BUSINESS OWNERS
As a business owner, find out how much you could potentially save with integrated controls on your HVAC and lighting systems by using Slipstream’s Building Energy Design Tools online calculator.
To dive a bit deeper, here is a summary by the Bipartisan Policy Center that explains the various tax credits, grants, rebates, and other funding available under the IRA.
-Stephanie Krubsack