Jan 9, 2023
Understanding the benefits of The Inflation Reduction Act
The Inflation Reduction Act (IRA) is a federal investment in beneficial electrification and sustainable energy technology. Low- and moderate-income households will receive the most benefits with discounts or tax credits included for the following and more:
- New, energy-efficient electric appliances
- New breaker panels and updated wiring
- Heat pumps and heat pump water heaters
- Weatherization, including air sealing, insulation, new doors and windows
- New and used electric vehicles and EV chargers
The tax incentives are an annual $1,200 or more tax credit with no lifetime cap. Instant rebates are available for some households that qualify.
To calculate what your possible benefits of the IRA could be, visit rewiringamerica.org/app/ira-calculator.
