TL/DR –
New York has launched the Home Energy Rebates program, an initiative to help low- and middle-income households save up to $14,000 on energy-efficiency upgrades. This is part of a nationwide initiative funded with $8.8 billion from the federal government, created under the Biden administration’s Inflation Reduction Act, aiming to lower household energy bills and increase energy efficiency. The program is projected to save consumers up to $1 billion annually in energy costs and support approximately 50,000 US jobs in sectors like residential construction and manufacturing.
New York Launches Home Energy Rebates Program
Leading the way in energy conservation, New York has initiated the pioneering Home Energy Rebates program, offering significant savings on energy-efficiency upgrades for low and middle-income households.
The initiative is part of a nationwide scheme to distribute $8.8 billion in federal funding to promote energy efficiency in homes across the United States. This funding facilitates cost-effective installation of energy-saving measures, such as heat pumps and insulation. The program is a product of the Biden administration’s Inflation Reduction Act.
The projected benefits include a potential $1 billion annual saving for consumers in energy costs, and the creation of roughly 50,000 US jobs in various sectors.
New York’s Home Electrification and Appliance Rebates
New York’s first phase of its $158 million Home Electrification and Appliance Rebates (HEAR) program integrates funding with the existing EmPower+ program, serving homeowners and renters below 80% of their area’s median income.
The program provides support for a range of energy-saving upgrades, including air sealing, insulation, and heat pumps, with a maximum rebate of $14,000 per unit. Further phases of the program will expand the reach to larger multifamily buildings and retail point-of-sale rebates.
Additionally, with an extra $159 million from the Inflation Reduction Act, eligible households can gain up to $8,000 in extra rebates for measures that reduce energy usage by at least 20%.
Home Energy Rebates Programs Nationwide
States like Massachusetts, Michigan, and Rhode Island are following suit, applying to the US Department of Energy for funding to initiate their own programs. A total of seventeen states have now applied for nearly $1.9 billion in funding under at least one of the Home Energy Rebates programs. You can check the status of your state’s program at energy.gov/save/rebates.
For more information, visit Here’s how much money you’ll get with the Inflation Reduction Act.
Consider Solar Energy
For those residing in areas prone to natural disasters, consider reinforcing your home’s resilience to power outages by opting for solar energy and adding a battery storage system. Visit EnergySage to find reliable, competitive solar installers near you.
Read More US Economic News
Comments are closed.