Transforming your house into an energy-efficient Healthy Home™

Making energy efficient improvements to your New York or Connecticut home has never been more affordable thanks to rebates and incentives like the Inflation Reduction Act (IRA). Originally passed into law in 2022, the IRA includes nearly $370 billion in investments aimed at fighting climate change. Part of this investment will go toward a number of incentives designed to help homeowners and renters improve efficiency, lower energy costs, and promote healthier indoor environments. 

Healthy Home Energy & Consulting can help you maximize your savings by using Inflation Reduction Act incentives with our comprehensive home efficiency services, including insulation, air sealing, and heat pump installation.

Inflation Reduction Act Tax Credits

The Energy Efficient Home Improvement Tax Credit is a revision and revamp of the older Section 25C of the Internal Revenue Code. The Inflation Reduction Act reinstated this tax credit and improved it in several meaningful ways.

The IRA tax credit allows taxpayers to offset their federal tax liability by 30% of the cost of a variety of qualifying energy efficiency upgrades. The total amount you can claim in a given year is $3,200, broken up into two separate groups:

  1. $2,000 combined cap on heat pumps, ductless mini splits, and heat pump hot water heaters

  2. $1,200 combined cap on qualified insulation and air sealing expenses, energy audits, electrical panel upgrades, windows and doors, and more

How do you claim the IRA tax credit? When you file your taxes for the year in which qualifying home improvements were made, fill out Form 5695—instructions from the IRS can be found here. Healthy Home Energy & Consulting is happy to provide you with an itemized receipt for work performed. We recommend that you work with a tax professional to ensure that your tax credit is calculated and submitted correctly.

Inflation Reduction Act Rebates 

The Inflation Reduction Act also created two new rebate programs, and each state is responsible for applying for funding with the Department of Energy, setting up the programs, and distributing the funds to its residents. New York became the first state in the country to get approval for IRA rebate funding in May of 2024, while Connecticut has not yet completed their application. 

Available Now in New York

New York has used its initial IRA funding to expand on its EmPower+ program, which is designed for low and moderate income households. On top of the current EmPower+ rebates offering up to $10,000 in savings, eligible applicants can also receive the following:

  • $1,600 for air sealing, insulation, and ventilation

  • $2,500 for electrical wiring upgrades

  • $4,000 for electrical panel upgrades

  • $1,750 for heat pump water heater installation

  • $8,000 for heat pump installation

Coming Soon in New York

New York has applied for additional funding for multi-family homes and certain high-efficiency upgrades. The state has not released much detail on these programs as of yet, but Healthy Home Energy & Consulting is keeping a close eye on the progress. Here’s what we know so far:

  • Home Efficiency Rebates up to $8,000 for a measured reduction in energy usage of at least 20%

Connecticut IRA Rebates

As of July 2024, Connecticut has received early administrative funding to set up IRA rebate programs through Energize Connecticut and is preparing their full application. 

Start the Process with a Healthy Home Evaluation 

Energy audits are a prerequisite to be eligible for IRA rebates, but they’re also a beneficial first step to making home efficiency improvements. 

During a Healthy Home Evaluation, our team will conduct a thorough analysis of your home’s current performance. We’ll use specialized tools and our building science expertise to diagnose issues, identify areas in need of upgrades, and build a customized plan of action. From there, we’ll make recommendations tailored to your needs that can improve comfort, lower your energy bills, and turn your house into a Healthy Home. 

Get started with a Healthy Home Evaluation today. Call 914-242-9733 or contact us online to get started.

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