HEEHRA Rebates Information
What is the High-Efficiency Electric Home Rebate Act (HEEHRA)?
HEEHRA (High-Efficiency Electric Home Rebate Act) is a new ten year rebate program available for low to moderate income households. This rebate program incentivizes homeowners to switch to electric home appliances and systems in an effort to reduce carbon emissions. The HEEHRA rebate will cover 100% of the costs required to switch to electric appliances and systems in homes that are low-income and 50% of costs in homes that are moderate-income for up to $14,000.
The HEEHRA rebate will be available through point-of-sale, meaning that you’ll be able to receive the discount upon purchasing the qualifying electric products.
Benefits and Advantages of the New HEEHRA Rebate Program
There are quite a few benefits and advantages to the new HEEHRA Rebate Program being offered to low to moderate income households. From saving money to helping reduce your environmental footprint, this rebate program can benefit your [DealerTown] home, wallet, and environment in the following ways:
- Decreased Energy Bills: A energy-efficient heat pump system that is covered under HEEHRA, can save on average $500 a year on utility bills. Save money with the rebate and on your monthly energy bills!
- Upgrade higher monthly utility bills and frequent costly repairs.
- Reduced Carbon Emissions: Electric heat pump systems could help to decrease carbon emissions anywhere from 46% to 54%!
- Air Quality Improvements: Electric appliances such as furnaces and gas stoves can help improve indoor and outdoor air quality.
Available Rebates
The rebate savings amount available will vary for each system as listed below:
- HVAC Heat Pumps: $8000
- Heat Pump Water Heaters: $1750
- Heat Pump Clothes Dryers: $840
- Circuit Breaker Panel: $4000
- Electrical Wiring: $2500
- Electric Stoves and Cooktops: $840
- Weatherization Methods – Insulation, Air Sealing, and Ventilation: $1600
Available Energy Efficient Equipment and Upgrade Tax Credits
Between 2023 and 2031, you will be able to claim 30% of the total cost of qualifying electrification projects as tax credits on your annual taxes. Discuss with a tax professional before committing to any major changes in your home. Qualifying upgrades include the following:
- Heat Pumps (2023 – 2031): All household income levels will receive 30% of the installation costs up to $2,000.
- Heat Pump Water Heater (2023 – 2031): All household income levels will receive 30% of the installation costs up to $2,000.
- Geothermal Heat Pumps (2023 -2031): All household income levels will receive 30% of the cost to install with no limits.
- Electric Upgrades (2023 -2031): Any electric upgrades must be related to a heat pump in order to qualify for all household income levels to receive 30% of the cost up to $600 for panel upgrades.
Who Qualifies For the HEEHRA Rebate Program?
To figure out if you qualify for the HEEHRA rebate program, check with the U.S. Department of Housing and Urban Development (HUD) to see what the income limits are in your county. As a rule of thumb, if your income is 150% or less than the median income of your area, you likely qualify for the HEEHRA rebate. If you fall in to the following guideline groups below, you will should qualify for the HEEHRA rebate program:
- Low-Income Households: Less than 80% of your area’s median family income.
- Moderate-Income Households: 80% to 150% of your area’s median income families.
- Multifamily Buildings: Above requirements apply to multifamily buildings with 50% or more LMI residents.
How Can I Prepare For the HEEHRA Rebate Program?
- Choose which systems you want to upgrade in your home. Get a list together of the products that you want to purchase to upgrade your home so that you can avoid waiting on any backorders (Think heat pumps, for example).
