![]() That includes checking to see whether you're qualified for some of the incentives, timing your purchases strategically and following instructions on how to claim valuable tax credits and rebates. It includes a host of tax incentives and rebates to help Americans make their lives and homes more energy efficient, cheaper and comfortable.īut you'll need to do some research. The landmark legislation was passed in August of 2022 and much of it kicked into gear in January. Here's what to know: What is the Inflation Reduction Act and how can it save me money? ![]() These rebates and tax credits don't just save you money now, they can save you money in the long term too as your new, energy-efficient products lower your bills. But that's changing, and now going green can also save you green in many cases. The IRA means big-ticket items like electric and induction stoves, solar panels, insulation and heat pumps could soon be a lot cheaper for many households.Ĭlimate-friendly purchases have a reputation as being a luxury - premium purchases that not everyone can afford. That's the idea of Inflation Reduction Act tax credits and rebates. Watch Video: Bill targeting drug prices, climate change, inflation passed by SenateĪmericans will soon have the chance to fight climate change, lower their bills, make their homes more up-to-date and comfortable - all while saving money.
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