Over the last year, the LOSN “Electrify LO” campaign has promoted the importance of moving away from fossil fuels toward electrification of vehicles and homes as among the most important ways we can reduce our carbon footprint and address the climate crisis. Now we can dive into when and how to electrify with information on financial incentives for home electrification and electric vehicles, how to choose a contractor for heat pumps for space conditioning, and how to try out an induction cooktop.
What Incentives Are Available Now? What Other Incentives Are Coming?
On January 1, 2023, new tax credits became available for many home electrification and energy efficiency projects including weatherization, heat pump water heaters, heat pumps for space heating and cooling, electrical panel upgrades, rooftop solar and home battery storage systems.
Later this year (or early 2024) additional upfront discounts (also called rebates) will become available for these improvements for lower-income and some middle-income families. The discounts, which can be combined with the tax credits, can be additionally used for induction and electric stoves, new wiring, and heat pump clothes dryers.
One more discount, available at all income levels, is called a whole home energy reduction rebate and it rewards homeowners for overall energy use reductions.
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