Did you know that the U.S. government and state of New Jersey will give you money to help pay for home energy efficiency upgrades? This is news our beautiful old South Orange houses can use.
South Orange homeowners have access to several incentive programs:
- The Inflation Reduction Act is the largest clean energy investment America has ever made, with strategic incentives to make the transition to clean energy and a decarbonized life easy and financially smart. Its home energy offerings include upfront discounts, tax credits, and low-cost financing. For more information, you can also check out the White House’s toolkit.
- New Jersey’s Clean Energy Program is a statewide program that offers incentives, programs, and services that benefit New Jersey residents, businesses, educational and non-profit entities, and government entities to help them save energy, money, and the environment.
- PSE&G provides rebates to help you save on select high-efficiency products and equipment for your home.
By going electric and improving your home’s efficiency, you can:
- Save money.
- Become energy independent.
- Reduce your household’s carbon emissions.
- Improve your home health and safety.
You can save on the following upgrades through IRA tax benefits and other incentives available now:
- Electric vehicles (EVs), EV chargers, and electric panel upgrades to support charging an EV.
- Home weatherization improvements.
- Rooftop solar and battery storage installation.
- Heat pump air conditioners and heaters, and geothermal heaters.
- Heat pump water heaters.
Later in 2023, IRA rebate incentives will launch for a few more types of upgrades:
- Electric/induction stoves.
- Electric wiring.
- Heat pump clothes dryers.
- And more!
But, real talk: Energy efficiency legislation can be confusing!
- Even with rebates and tax benefits, clean energy upgrades can be costly—but your benefits depend on your income. If your household income is low to moderate, you might be eligible for more benefits!
- The Inflation Reduction Act (IRA) includes an overall tax credit limit for one year. Most households should expect to use these incentives over several years.
- For some upgrades, more than one type of incentive applies. That means you may need to file multiple forms to get all of the cash you’re entitled to.
The good news is that the Rewiring America IRA Savings Calculator will do a lot of the work for you! Check it out to preview the IRA incentives you qualify for.
–
This summer, the South Orange Green Team & Environmental Commission will walk you through the energy efficiency incentives available to you. (That’s free money, people!) Follow us to see our tips, and save money on electric vehicles, home weatherization, appliances, and more!
Next week we’ll dive deep into benefits that can help you buy an electric vehicle (EV). If you’d like to read ahead, check out Rewiring America’s EV guide.
South Orange Environmental Commission & Green Team 