Department of Energy Accepting Applications for $8.5 Billion in Rebates for Home Energy Efficiency Upgrades
WASHINGTON, July 27 (Reuters) – The Department of Energy announced on Thursday that it is accepting applications from states and territories for $8.5 billion in rebate programs aimed at lowering energy bills and increasing energy efficiency in U.S. homes.
Rebate Programs to Support Sustainable Development Goals
The rebate programs, funded by President Joe Biden’s Inflation Reduction Act, align with the Sustainable Development Goals (SDGs) and will contribute to the following targets:
- SDG 7: Affordable and Clean Energy
- SDG 8: Decent Work and Economic Growth
- SDG 9: Industry, Innovation, and Infrastructure
- SDG 11: Sustainable Cities and Communities
- SDG 13: Climate Action
Available Rebates for Energy Efficiency Upgrades
Consumers will have access to rebates for various energy efficiency upgrades, including:
- Insulation
- Heat pumps
- Efficient appliances
Expected Impact on Energy Costs and Job Creation
The Department of Energy estimates that these rebate programs will save up to $1 billion a year in energy costs and support approximately 50,000 jobs in construction, manufacturing, and other related industries.
Timeline for Rebate Availability
According to David Turk, the deputy U.S. energy secretary, the rebates are expected to be available to consumers in some states as early as the end of this year. The availability will continue on a rolling basis in 2024, depending on the speed of implementation by states and territories.
Encouraging Participation from All States
When asked about potential concerns regarding Republican-led states declining to apply for the funds, David Turk expressed hope that “all our partners across the country” would recognize the benefits of participating in the program.
Details of the Rebate Programs
The Department of Energy has launched two rebate programs:
-
Home Efficiency Rebates Program
This program offers $4.3 billion in formula grants to state energy offices. The grants aim to reduce the upfront costs associated with whole-home energy efficiency upgrades in both single and multi-family homes.
-
Home Electrification and Appliance Rebates Program
This program provides $4.275 billion to states to lower the costs of efficient electric technologies. Additionally, $225 million in grants are allocated to tribes for the same purpose.
Savings for Low-Income Families
Low-income families can potentially save up to $14,000 through these rebates on purchases that improve energy efficiency. The Energy Department has clarified that consumers receiving the rebates will not be required to report their value as income.
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