BURLINGTON, VT – Sen. Peter Welch (D-Vt.) applauded the Biden-Harris Administration’s approval of the first funding application for the Inflation Reduction Act’s Home Energy Rebates program, which includes provisions the Senator first introduced and championed in the HOPE for HOMES Act, legislation that successfully passed as part of the historic Inflation Reduction Act. Under the energy rebate program, New York was awarded $158 million to help homeowners retrofit their homes with energy efficient improvements including insulation, HVAC systems, and air source or ground source heat pumps.
The collective home rebate programs will provide $8.8 billion for states, territories, and Tribes to cut energy costs and make homes more energy efficient. The program is expected to save consumers up to $1 billion annually in energy costs and support an estimated 50,000 U.S. manufacturing jobs.
“I championed the HOPE for HOMES Act and this home energy rebate program because I believe every family should have the tools to make their homes more energy efficient and be a part of the green energy transformation, while lowering costs. As we close out Earth Week, I’m excited to see the first state receive funding from this Inflation Reduction Act program – with many more on the way,” said Sen. Welch. “Saving money, protecting the environment, and creating jobs is what the IRA was all about. The Biden-Harris Administration is helping everyone play a part in combatting climate change and protecting our planet.”
Participating households can save up to $14,000 on home upgrades. Some efficiency upgrade options to cut energy costs include:
- Up to $8,000 off an ENERGY STAR-certified heat pump for space heating and cooling
- $4,000 off an electrical panel upgrade
- $2,500 off electrical wiring
- $1,750 off an ENERGY STAR-certified heat pump water heater
- $1,600 for insulation, air sealing, and mechanical ventilation products
- $840 for an ENERGY STAR-certified electric heat pump clothes dryer and/or an electric stove, cooktop, range, or oven
States across the country are in the process of preparing and submitting applications for the Home Energy Rebate Program. Read the full announcement by the Department of Energy here.
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