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Infrastructure Investment and Jobs Act Update

February 1, 2024
PalmettoPalmetto
In this article
01.
State Progress: Leading the Charge Towards Greener Homes
02.
Election Year Urgency: Powering Through Potential Changes

Home Energy Rebates Around the Corner – What You Need to Know!

In a significant development following the passage of the Infrastructure Investment and Jobs Act (IRA) approximately 18 months ago, homeowners across the nation are eagerly anticipating the rollout of Home Energy/Electrification Rebates. The Department of Energy (DOE) has allocated a staggering $9 billion for states to implement consumer-friendly rebates, ushering in a new era of cash incentives for home electrification upgrades – a game-changer distinct from the complexities of tax credits.

State Progress: Leading the Charge Towards Greener Homes

After months of collaborative efforts with stakeholders and state energy offices, four states – New York, New Mexico, California, and Hawaii – have completed their applications and are gearing up to be the pioneers in launching their programs.

Across the nation, other states are in various stages of preparation, with several, including New Hampshire, Connecticut, Rhode Island, Pennsylvania, Virginia, West Virginia, Ohio, Kentucky, Michigan, Wisconsin, Minnesota, Louisiana, New Mexico (once again), Arizona, Montana, Colorado, and Washington, securing pre-funding. While pre-funding doesn't guarantee an immediate program launch, it signifies a strong commitment from these states to ensure consumers reap the intended benefits. Therefore, there is the potential for 15-25 to roll out electrification rebate programs in 2024, which would be a big boost for the solar industry.

Election Year Urgency: Powering Through Potential Changes

With 2024 marked as an election year, the Biden administration is pressing for the swift distribution of funds, anticipating potential changes in the administration come January 2025. While the recall of funds is improbable, the sooner these funds become available, the better for any homeowner considering the jump to solar.

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