Inflation Reduction Act - Tax Rebates on Home Upgrades

[Cheburashka]

Source?
Just curious.

Sorry I was way low, the sold price is actually 1.5M

https://www.realtor.com/realestateandhomes-search/San-Francisco_CA/overview

 

[MontyFloyd]

Sorry I was way low, the sold price is actually 1.5M

https://www.realtor.com/realestateandhomes-search/San-Francisco_CA/overview

Thanks.
Although the area looks to have a larger % of highlights, offices, and other non-residential homes.

 

[ElectricIAC]

Thanks.
Although the area looks to have a larger % of highlights, offices, and other non-residential homes.

The point remains the same.

 

[MontyFloyd]

Thanks.
Although the area looks to have a larger % of highlights, offices, and other non-residential homes.

blasted ninja, should be highRISES

 

[Cheburashka]

It doesn't matter. Most households in the Bay Area, Los Angeles, New York, etc probably wouldn't qualify unless they bought into their house a long time ago or inherited their homes and also haven't seen any wage increases in the last decade. In this case, they are also the people sitting on a kiloton of home equity with a tiny mortgage payment.

There's nothing equitable about this plan. If they wanted to make it equitable they should have just had a countrywide income cap at 500K or something.

I also fear this will drive the prices of heat pumps up. We'll see what happens.

 

[STS-134]

I'm trying to figure out what qualifies for the $2k rebate on heat pumps next year. Is it Energy Star heat pumps or does it have to be something much more efficient than just Energy Star?

 

[ThomasD]

What about the people who can't afford the upfront cost? What good is a tax rebate if they have to wait for it to make the price of the item lower? Where are the rebates for people on V A or SS disability that don't have a taxable income?

 

[ElectricIAC]

What about the people who can't afford the upfront cost? What good is a tax rebate if they have to wait for it to make the price of the item lower? Where are the rebates for people on V A or SS disability that don't have a taxable income?

Let them eat cake.

 

[ItsNotAboutTheMoney]

Does someone have clarity on how they define "where you live" or how exactly the states are going to administer this program?

If they use state median income I am screwed, if they use my zip codes or towns median income I am definitely more than good. I'm sure this is the case for a lot of people that live close to the coast.

(4) LOW- OR MODERATE-INCOME HOUSEHOLD.—The term “low- or moderate-income household” means an individual or family the total annual income of which is less than 150 percent of the median income of the area in which the individual or family resides, as reported by the Department of Housing and Urban Development, including an individual or family that has demonstrated eligibility for another Federal program with income restrictions equal to or below 150 percent of area median income.

 

[DrSmile]

I think unless they get rid of the income limits this policy will fail miserably and no one will adopt any of these products. The people excluded are exactly the people that have been buying the majority of new energy products.

 

[mspohr]

Your guide to the Inflation Reduction Act

The Inflation Reduction Act is full of incentives to help you and your family go electric. But there’s a lot to explore and understand, from electric appliances you may not even know about yet to the best way to structure your electric journey for maximum savings. Our Go Electric guide provides...

www.rewiringamerica.org

How and why to electrify everything

Rewiring America estimates that the average U.S. household can save $1,800 a year in utility costs by switching to all electric, plus the IRA offers added incentives.

pv-magazine-usa.com