Climate Legislation and How It Will Impact You
Both the Massachusetts and the Federal Inflation Reduction Act will have an impact on moving us towards a net zero future.
There are new clean vehicle credits. Learn about EVs and the new tax credits.
Plus higher solar tax credits. The savings from installing solar on typical sunny residential roof in Andover could payback the installation cost in under 9 years. After the 9 years the homeowner can save over $1,000 a year!
New appliance incentives too! Eligible homeowners can get rebates as high as:
$8,000 for heat pump installation
$1,750 for a heat-pump water heater
$840 to offset the cost of a heat-pump clothes dryer or an electric stove
Plus there are critical rebates for non-appliance upgrades:
$4,000 for electrical panel upgrades
$1,600 for insulation, air sealing, and ventilation
$2,500 for electrical wiring improvements
Households are eligible for a maximum of $14,000 in total rebates. To qualify, a household’s income cannot exceed 150% of the area median income.
Homeowners who do not qualify for the rebates can receive tax credits of up to $2,000 to install heat pumps and $1,200 a year for other energy-saving improvements, such as installing an induction stove or new windows and doors.
And those are just at the federal level!
MassSave offers rebates and technical assistance to help you save money and use less energy whether you are a renter or a home owner. Some of their rebates include:
Up to $10,000 for an air-source heat pump
Up to $15,000 for a ground-source heat pump
$750 instant rebate on heat pump water heaters
Free virtual or in-person Home Energy Assessments to learn about your top energy-saving opportunities
Sources: EcoBlock, MassSave
