The Federal government passed several significant bills last year that will help people electrify their homes and reduce their carbon footprint. If you haven’t done so already, now is a great time to consider purchasing and installing qualified improvements to reduce your greenhouse gas emissions. The incentives available now include TAX CREDITS for items purchased during the current tax year such as: new electric vehicles ($7500), used electric vehicles (up to $4000), and EV chargers (up to $1000). For your home, such items as weatherization, heat pumps, heat pump water heaters, geothermal systems, rooftop solar, and battery storage can earn tax credits of 30%. In November the State of Michigan will also be issuing rules for receiving DIRECT REBATES for these items, so that even if you don’t have an income tax due you will still be able to receive the incentives. As soon as these rebates are announced we will be letting you know. Some incentives can also be used even if you are a renter, such as induction cooktops.
For more information, check out these helpful links:
· https://www.energystar.gov/about/federal-tax-credits
· https://www.energy.gov/energysaver/financing-and-incentives
· https://www.irs.gov/credits-deductions/home-energy-tax-credits
· https://www.energy.gov/scep/home-energy-rebates-programs
Consumers Energy also offers rebates to their customers:
https://www.consumersenergy.com/residential/savings-and-clean-energy/rebates/heating-and-cooling