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Inflation Reduction Act
Home / Inflation Reduction Act
Get Financial Help for Your Home's Energy Efficiency Improvements
The inflation reduction act is a federal program that is offering energy efficiency rebates that can be combined with the already existing state programs to provide even more savings. Included in this act is the Energy Efficient Home Improvement Tax Credit: this expands the credit to allow households to deduct 30% of the costs of eligible upgrades from their taxes. This credit can be combined with the Empower + or comfort home savings to lower the cost of energy efficiency upgrades even further for consumers.
Who Can Use These Energy Efficiency Upgrade Incentives?
Since this act was recently passed the rollout for these incentives is still in progress. These incentives will be available soon and New York will be one of the first states to implement these incentives. More info about the incentives and there rollout can be found here .
Incentives
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Eligible Clean Energy Technology | Fedral IRA Tax 2023-2032 | New York State Incentives |
---|---|---|
Electric Panel or Circuit Upgrades | 30% of cost, up to $600* | |
Insulation Materials† | 30% of cost* | Incentives: $1,600 - $3,000 |
Windows, Including Skylights | 30% of cost, up to $600* | Incentives may be |
Exterior Doors | 30% of cost, up to $500 for doors (up to $250 each)* | |
Home Energy Audits | 30% of cost, up to $150* | Free options for most New Yorkers |
* Subject to cap of $1200/year
** Chart taken from NYSERDA’s website