Inflation Reduction Act

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 The High-Efficiency Electric Home Rebate Program is an incomebased program set up to encourage the purchase of efficient electric equipment for single and multi-family homes and public buildings. The program is based on income, and the state-based rebate program can cover up to 100% of the project costs for low income homeowners, or 50% for moderate incomes. This rebate program also includes rebates for electric load service and wiring upgrades. Total rebates are not to exceed $14,000 per eligible entry. $4.4B is appropriated to this program, however, states must request federal funding to distribute locally to qualified electrification projects. As such, states will apply for funding to begin rolling out their programs in 2023. 

 The HOMES Rebate Program is a performance-based rebate program for single or multi-family homes. The equipment’s technical requirements and potential rebate amounts for homeowners will vary based on state requirements and income levels. However, the guidance outlines that a homeowner may receive up to $4,000 per dwelling, and that amount could be doubled for low-and moderate income (LMI) homeowners, tenants, and multi-family landlords. State energy programs must submit applications for The HOMES Rebate Program, and funding will then be distributed to state energy offices. As such, states will apply for funding to begin rolling out their programs in 2023. 

 The Energy Efficiency Rebate Programs in the IRA are federally funded programs that each state must apply for, develop, and enforce. The rebate programs may vary from state to state, and it is possible that some states may choose not to offer the rebates.