Here are the top five steps for understanding electric incentives. Use The Switch Is On Incentive Finder to explore low to zero-cost home energy assessments, income eligibility programs, financing options, and tax credits available through various local and state resources.
1. Get a home energy assessment/audit.
Start your energy-saving journey on the right foot with a comprehensive home energy assessment. It’s the first step towards identifying areas for improvement and maximizing your savings potential. Explore your options with The Switch Is On Incentive Finder and your electric utility, community choice aggregator, county, or city can help you find a low to zero cost assessment as well.
2. Explore income eligibility programs.
Based on your household income, you may be eligible for no-cost upgrades, higher incentives, or financial aid for home improvements. This may include direct installation of energy-efficient upgrades or loans with low to zero interest rates. Discover your options with The Switch Is On Incentive Finder.
3. Find financing programs.
Many utility providers, local and state governments, as well as other organizations have programs to extend financial assistance to homeowners who want to electrify. Most of the loans offered through these programs have zero percent financing or low interest rates. Find your financing options with The Switch Is On Incentive Finder.
4. Apply for tax credits.
Don’t wait for the IRA rebates to kick in – apply for tax credits yearly for efficient electric upgrade projects now. The Inflation Reduction Act (IRA) offers tax credits of up to $3,200 annually until 2032 for electrical upgrades, weatherization, heat pumps, solar panels, home batteries, and electric vehicles, with varying amounts for each. Claim tax credits for all eligible appliances, equipment, or upgrade projects without any stacking restrictions. Additionally, you can claim tax credits retroactively.
5. View all incentives available.
Enter your zip code at The Switch Is On Incentive Finder to uncover all the incentives available to you. From state and city incentives to utility rebates, there are plenty of opportunities to combine, often referred to as “stacking”, and save. Make sure to check for incentives BEFORE starting your project, as most post-installation incentives are only tax credits. Sign up to receive alerts when IRA rebates roll out in your state.
