A rebate is a partial refund followed by a purchase or payment for a service. In our case, the utility company will write our company a check after the qualified work is finished, so we can reduce your cost by the rebate amount. This provides you with the most hassle-free way to improve your home’s efficiency. To qualify for the rebates, an energy audit must be performed first. The following is a breakdown of what is available to you and from what utilities:
Home Performance Upgrade Rebates
- $400 Duct Sealing Rebate per system
- $600 in Insulation Rebates (as long as current insulation is performing under an R19)
- $250 (16 ACH50) Air Sealing Rebate
- .80¢ per sq. foot in Shade Screen Rebates
- $100 Audit “Booster” Rebate
Spray foam can utilize both rebates. Also, SRP has an additional rebate of $100 if either work is performed to reimburse you for the cost of the audit.
New AC Unit and Heat Pump Upgrade Rebates
- $200-$800 Depending on SEER, HSPF, and EER (view details on AC Rebates here)
Variable Speed Pool Pump Upgrade Rebate
- $100 Rebate
Although there are many great opportunities to add value to your home and save money at the same time, it is important to find a trustworthy contractor that is part of the program. The right contractor makes all the difference with energy efficient improvements to ensure actual savings.
Check out our Home Performance with Energy Star page to verify our status with each utility provider and the status of other contractors.
The Inflation Reduction Act
Earlier this year (2022), Senate Majority Leader Chuck Schumer (D-NY) and Senator Joe Manchin (D-WV) introduced the Inflation Reduction Act of 2022 (IRA)—a bill that contains the largest combined investments in energy efficiency in U.S. history.
The proposed legislation will fight inflation by driving down energy costs, providing economic opportunity and capacity-building investments in disadvantaged communities and low- to moderate-income households, creating good jobs, and cutting greenhouse gas pollution. According to an analysis from Senate Majority Leader Schumer’s office, the IRA would cut climate pollution by 40% below 2005 levels by 2030. Another analysis, by Energy Innovation, found that the IRA would create up to 1.5 million jobs.
Please find below a summary of the bill:
Energy Efficient Home Improvement Credit
- Restarting (expired at the end of 2021) the Non business Energy Property Credit, with a new name.
- The credit is revived for the 2022 tax year, and the old rules apply (10% of cost)
- Starting in 2023, the credit will be equal to 30% of the costs for all eligible home improvements made during the year.
- Energy-efficient insulation, windows, doors, roofing, and similar energy-saving improvements
- It will also be expanded to cover the cost of certain biomass stoves and boilers, electric panels and related equipment, and home energy audits.
- Annual limits for specific qualified measures:
- $150 for home energy audits
- $250 for an exterior door ($500 total for all exterior doors)
- $600 for exterior windows and skylights; central air conditioners; electric panels and certain related equipment; natural gas, propane, or oil water heaters; natural gas, propane, or oil furnaces or hot water boilers
- $2,000 for electric or natural gas heat pump water heaters, electric or natural gas heat pumps, and biomass stoves and boilers (for this one category, the $1,200 annual limit may be exceeded)
Residential Clean Energy Credit
- Renamed Residential Energy Efficient Property Credit, which was previously scheduled to expire in 2024, is extended through 2034
- Credit to install qualifying systems that use solar, wind, geothermal, biomass or fuel cell power to produce electricity, heat water or regulate the temperature in your home.
- Credit amount jumps to 30% from 2022 to 2032
High-Efficiency Electric Home Rebates
To qualify for a rebate, family’s total annual income must be less than 150% of the median income.
Qualifying homeowners can get rebates as high as:
- $840 for a stove, cooktop, range, oven, or heat pump clothes dryer;
- $1,750 for a heat pump water heater; and
- $8,000 for a heat pump for space heating or cooling.
Rebates for non-appliance upgrades will also be available up to the following amounts:
- $1,600 for insulation, air sealing, and ventilation;
- $2,500 for electric wiring; and
- $4,000 for an electric load service center upgrade.
Home Energy Performance-Based Whole House Rebates
Key points of this section of the bill:
- Individual States must submit proposals for funds to implement this rebate program
- Will only be available if state is awarded a grant
- To qualify for a rebate the home must achieve modeled energy system savings using from approved energy modeling software
- See PDF for the various saving levels and rebate amount
- BPI 2400 followed for purposes of modeled performance
- Third party provide certificate/QA
- Details will be clearer once the grant language is available