New York recently became the first state in the country to launch home energy rebates with funding through the Inflation Reduction Act (IRA). In this huge step forward for sustainability, homeowners and renters alike now have access to significant savings on making essential home upgrades, such as heat pump installation, insulation upgrades, and more.
While some of the IRA rebates are available now, others are still awaiting approval and will roll out later this year. Healthy Home Energy & Consulting is keeping a close eye on these programs—here’s everything you need to know about IRA incentives in New York:
Available Now: Tax Credits & EmPower+ Rebates
In the first phase of IRA rebate rollouts, New York has expanded on its EmPower+ program, which is reserved for low and moderate income households in one-to-four-family homes. In addition to the rebates of up to $10,000 for energy efficient improvements, the EmPower+ program now includes the following rebates:
Air sealing, insulation, and ventilation: $1,600
Electrical wiring upgrades: $2,500
Electrical panel upgrades: $4,000
Heat pump water heaters: $1,750
Heat pumps: $8,000
The IRA tax credits, known as 25C or the Energy Efficient Home Improvement Tax Credit, are also available now, and can be combined with the IRA rebates and other local incentives. These tax credits cover 30% of the cost of qualifying expenses, such as:
Still to Come: Multi-Family & Home Efficiency Rebates
New York is still working on rolling out the second phase of the IRA rebate programs, which will include rebates for multi-family homes and certain high-efficiency upgrades. While we don’t have much more detail on these programs, we know the Home Efficiency Rebates will be available to eligible homeowners up to $8,000 for measures that reduce energy usage by at least 20%.
Act Now to Maximize Your Savings
Healthy Home Energy & Consulting can help you take advantage of savings made available through the IRA. We recommend starting the process with a Healthy Home Evaluation, which is not only a prerequisite for claiming IRA rebates but also available at no-cost for New York residents through NYSERDA. Our team will accurately determine where your home has inefficiencies and develop a custom plan of action to solve comfort issues, lower energy bills, and improve indoor air quality.
We’re a nationally certified, full-service home improvement company offering high-performance upgrades backed by building science. We help homeowners throughout Putnam, Westchester, and Fairfield counties and use a whole-home approach to our work. Ready to make your house a Healthy Home?
Schedule a no-cost energy assessment to get started. Call 914-242-9733 or contact us online today.
