Millions of Americans are eligible for an $8,000 one-time rebate to switch appliances in their homes.
Millions of Americans to Receive $8,000 One-Time Rebate
The funds aim to help Americans replace every old appliance in their home with better energy-efficient appliances. The Biden administration provided this federal infrastructure rebate courtesy payment worth $150 million said The US Sun.
The landmark Inflation Reduction Act law aims to provide lower energy costs. To achieve this, they allow consumers to claim the same or varying credits if new products are purchased each year. The Inflation Reduction Act is helping millions of Americans who opt to replace their old furnaces with heat pumps would qualify for the rebate.
One-Time Rebate Worth Between $4,000 to $8,000, See if You’re Qualified
In the federal home electrification program, you can qualify for the extra payment if your income is lower than 80% to 150% of the median income in your area. The rebate will cover 50% of the cost to provide electricity for your home. The whole cost will be covered if your income is lower, with a cap of $14,000 per household.
The full rundown includes:
– $8,000 for heat pumps
– $4,000 for panel/service upgrades
– $1,750 for heat pump water heaters