New Energy Efficiency & Clean Energy Funding Available

What homeowners need to know about the 2022 Inflation Reduction Act

KUB is committed to helping customers save energy and money. The Inflation Reduction Act (IRA), signed into law on August 16, 2022, aims to help American households save money on energy bills; upgrade to clean energy equipment and improve energy efficiency; and reduce indoor and outdoor air pollution.

There are several funding opportunities available for KUB customers that make qualifying energy improvements to their homes.

Tax Credits

Approximately $43 billion in IRA tax credits aim to lower emissions by making electric vehicles, energy-efficient appliances, rooftop solar panels, geothermal heating, and home batteries more affordable. If you make energy improvements to your home, tax credits are available for a portion of qualifying expenses. The credit amounts and types of qualifying expenses were expanded by the Inflation Reduction Act of 2022.

  1. Energy Efficient Home Improvement Credit: Provides 30% of costs up to $3,200 per year in tax credit for qualified energy-efficient improvements installed after Jan. 1, 2023.
  2. Residential Clean Energy Credit: Provides 30% of costs with no annual limit in tax credit for new, qualified clean energy property for your home installed anytime from 2022 through 2033.
  3. Clean Vehicle Credit: Up to a $7,500 credit if you purchase a qualified plug-in EV or fuel cell electric vehicle. 

Learn More About IRA Tax Credits Here

Home Energy Rebates (Coming Soon)

In addition to the IRA Tax Credits, two IRA provisions authorize $8.8 billion in rebates for home energy efficiency and electrification projects. The Home Energy Rebate programs, which are to be administered by State Energy Offices, will provide varying funding amounts depending on income qualifications for two categories of rebates:

  1. Section 50121: Home Energy Performance-Based, Whole House Rebate Program (Home Efficiency Program)
  2. Section 50122: High-Efficiency Electric Home Rebate Program (Home Electrification Program)

Home Energy Rebate Program funds are not yet available.

Learn More About IRA Home Energy Rebates Here