U.S. homeowners are getting help with their rising energy costs thanks to a law that just went into action in many states. This is good for the environment.
The Inflation Reduction Act was passed by Congress in 2022. It is a broad law that fights global warming and includes a lot of tax breaks to urge homeowners to make improvements that save them money on energy costs and are better for the environment. The IRA helps pay for the labor and installation costs of these changes and pushes contractors to work on more electrification projects.
IRA’s programs to help people get electricity and make their homes more energy efficient are run by the states. These programs are starting to roll out in many states across the country, with California being the most recent to do so earlier this month. Here’s a map from the U.S. Department of Energy that shows which states have power available.
If you improve your home’s weatherization by adding better insulation, ventilation, and sealing, you can already get a $1,600 refund in Arizona, Maine, and Rhode Island. A simple and cheap way to stop air from getting in and out of your home is to caulk and add weather strips. This will keep your heating and cooling systems from having to work harder than they need to.
The Department of Energy says that weatherization can also help cut bills by $283 per year. This is especially helpful for low-income families, which spend 16.3% of their income on energy bills compared to 3.5% in other homes. It can be hard to figure out how to make these kinds of changes, but there are places like Rewiring America that can help you learn more about tax breaks and find cheap workers to do the work on your home.
The EPA also says that these kinds of improvements can help you save 15% on your heating and cooling bills, which is great for your pocket. Making your home more energy efficient also cuts down on pollution and energy use, like greenhouse gases that trap heat and can add to climate change.
We will depend less on fossil fuels, which pollute the environment and cause damage, as more people switch their homes, including appliances and cars, to electric choices.
Making green changes that are good for you financially is one way that the IRA helps the ongoing effort to make American houses and yards greener.
