Good news! As part of the Inflation Reduction Act of 2022, you can help your customers get up to $20,000 in cash rebates and up to $1,200 per year in tax credits.
The tax credits are available for any project that went into service in 2023. The rebates vary from state to state, with most rolling out spring 2023
Get ahead of your competition and start working with prospects now to get their business.
Here’s what you need to know.
Everyone qualifies for the tax credit. To qualify for a rebate, the prospect’s total annual income must be less
than 150% of the median income where they live.
For example, if the median income in their area is $100,000, they qualify if they make less than $150,000.
Here’s how to find an area’s median income and help your prospects understand if they qualify for rebates:
- Go to https://www.census.gov/quickfacts
- Enter the city where your prospect lives
- In the ‘Select a Fact’ drop down window, choose ‘Income & Poverty’ (12th item in the list)
- Median Income will show at the top (in blue)
List of Rebates
- $840 stove, cooktop, range, oven, or heat pump clothes dryer
- $840 heat pump clothes dryer
- $1,750 heat pump water heater
- $8,000 heat pump for space heating or cooling
- $1,600 insulation, air sealing, and ventilation
- $2,500 electric wiring
- $4,000 electric load service center upgrade
List of Tax Credits
- $150 home energy audits
- $500 exterior door ($250 per exterior door)
- $600 exterior windows and skylights
- $600 central air conditioners, electric panels, natural gas, propane, or oil water heaters
- $600 natural gas, propane, or oil furnaces or hot water
- $2,000 electric or natural gas heat pump water heaters, electric
- $2,000 natural gas heat pumps, and biomass stoves and boilers