Inflation Reduction Act - electric subsidy/ rebate/ tax credits

Has anyone here done much research into the Inflation Reduction Act's electric subsidy / rebates / tax credits that are apparently available for home upgrades? I'm looking at getting a hybrid heat pump water heater, replacing a very old propane water heater, which would qualify for some rebates and/or credits. I've just started looking, and apparently the IRA will also cover some of the costs for installation, like running a 240V line to the heater. Just curious if anyone here has dug into this already, before I go down the google rabbit hole...

Here's a PDF that I got sent a link to, describing the electric subsidy stuff:
https://content.rewiringamerica.org/...al%20Guide.pdf

If they want a true IRA send every household at least $500 a month to offset a little of what has gone up so much. Being moved to PA in 1, 2,....

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Originally Posted by liv2ski

If they want a true IRA send every household at least $500 a month to offset a little of what has gone up so much. Being moved to PA in 1, 2,....

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What you’re proposing would have been called the Inflation Creation Act.

(Not all bad necessarily. Just needs to be used during the right time, which is not when trying to get inflation under control.)

I mean, the tax cuts and jobs act effectively raised taxes on most people. The act name has very little to do with the actual effects

Skip the poli ass stuff, please.

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Originally Posted by El Chupacabra

Has anyone here done much research into the Inflation Reduction Act's electric subsidy / rebates / tax credits that are apparently available for home upgrades? I'm looking at getting a hybrid heat pump water heater, replacing a very old propane water heater, which would qualify for some rebates and/or credits. I've just started looking, and apparently the IRA will also cover some of the costs for installation, like running a 240V line to the heater. Just curious if anyone here has dug into this already, before I go down the google rabbit hole...

Here's a PDF that I got sent a link to, describing the electric subsidy stuff:
https://content.rewiringamerica.org/...al%20Guide.pdf

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A bit, I'm claiming big credits for a solar installation and a heat pump on my 2023 taxes.
Remember to look into your local initiatives, too. Our electric co-op cut me a $2400 check as a rebate for the heat pump.

We are getting solar installed and getting about 30% of the price back in rebates and tax credits (calculated that it will pay for itself in ~7 years). We also switched our stove to an induction stove/oven and got $500 ack for that. We have a local organization that handled getting us all signed up and worked through the process. Started with a home energy audit, which was mostly covered by rebates too. We plan on getting a heat pump installed next year, and probably some batteries for the solar at some point, but I feel like batteries are going to improve over time and we don't necessarily need them right now.

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Originally Posted by El Chupacabra

Has anyone here done much research into the Inflation Reduction Act's electric subsidy / rebates / tax credits that are apparently available for home upgrades? I'm looking at getting a hybrid heat pump water heater, replacing a very old propane water heater, which would qualify for some rebates and/or credits. I've just started looking, and apparently the IRA will also cover some of the costs for installation, like running a 240V line to the heater. Just curious if anyone here has dug into this already, before I go down the google rabbit hole...

Here's a PDF that I got sent a link to, describing the electric subsidy stuff:
https://content.rewiringamerica.org/...al%20Guide.pdf

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Thank you for posting this. Subscribed.

Like Name Redacted, we did solar installations on 2 houses once the IRA bumped the tax credit back up to 30% (it was down to 22% and was disappearing in 2024). Unless something changes, it will remain at 30% through 2032 IIRC. Vermont no longer offers rebates for solar installation and New Hampshire never did but the 2 installs have made my tax planning pretty simple for the next couple of years.

I *think* (don't quote me) that beyond the fed tax credits, the states are required to have set up their programs to distribute IRA money for electrification, etc. upgrades by end of year and I'm imagining that state incentives for this work will get rolled out in January or shortly thereafter. These are often buy downs on the cost of equipment at time of purchase (like they do for heat pump water heaters here in Maine) or rebates once you've had the installation done. Keeping in mind some heat pumps for my house once they do!

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Originally Posted by El Chupacabra

Has anyone here done much research into the Inflation Reduction Act's electric subsidy / rebates / tax credits that are apparently available for home upgrades? I'm looking at getting a hybrid heat pump water heater, replacing a very old propane water heater, which would qualify for some rebates and/or credits. I've just started looking, and apparently the IRA will also cover some of the costs for installation, like running a 240V line to the heater. Just curious if anyone here has dug into this already, before I go down the google rabbit hole...

Here's a PDF that I got sent a link to, describing the electric subsidy stuff:
https://content.rewiringamerica.org/...al%20Guide.pdf

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You might find this calculator useful:

https://www.rewiringamerica.org/app/ira-calculator

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Originally Posted by WaistDeepGroomers

I *think* (don't quote me) that beyond the fed tax credits, the states are required to have set up their programs to distribute IRA money for electrification, etc. upgrades by end of year and I'm imagining that state incentives for this work will get rolled out in January or shortly thereafter. These are often buy downs on the cost of equipment at time of purchase (like they do for heat pump water heaters here in Maine) or rebates once you've had the installation done. Keeping in mind some heat pumps for my house once they do!

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Doing some more research on this -- this looks accurate. Here's the DOE site saying that rebates are not yet available to homeowners:
https://www.energy.gov/scep/home-energy-rebate-program

The Rewiring America site also gives a timeline of "2024" for rebate amounts for home electrification:
https://www.rewiringamerica.org/app/ira-calculator

I live in Nevada -- here's the NV Governor's website saying they expect rebates to be available late 2024 or early 2025. I emailed them to ask about it too:
https://energy.nv.gov/Resources/Fede...family%20homes.

Here's the Energy Star site you can use to locate rebate info:
https://www.energystar.gov/rebate-finder

As of today, it looks like I would be eligible for a federal tax credit for a heat pump water heater, for 30% of the total project cost, up to a max of $2000. As best I can tell, the federal tax credit is independent of the state rebate funds that are coming from the Inflation Reduction Act, and qualification for the rebates depends on income in your particular area.

Buddy recently installed a heat pump and minisplits and upgraded insulation. It's really quiet compared to a traditional forced air system. Cool air pouring out the ceiling vent without a sound. Maybe it's louder when there's a significant temperature difference to the outdoors. Don't know anything about IRA rebates.