MILLIONS of Americans must act now to be eligible to receive up to $14,000 stimulus checks for their home due to energy-efficient home upgrades.
President Biden’s Inflation Reduction Act calls for several ways Americans can benefit and lower their energy costs.
The Inflation Reduction Act was signed by President Biden in August 2022.
The stimulus check bill is meant to help lower costs for families while addressing climate, health care, and taxes.
The bill outlined several ways millions of Americans can benefit and see a return on energy-saving steps.
Stimulus Check: How Much Are The Energy Tax Credits?
The White House said families who take advantage of the clean energy and electric vehicle tax credits will save more than $1,000 a year.
Other savings include:
$14,000 in direct consumer rebate stimulus checks for families to buy heat pumps or other energy-efficient home appliances
7.5million more families will be able install solar on their roofs with a 30%tax credit, saving families $9,000 over the life of the system or at least $300 per year
Up to $7,500 in tax credit stimulus checks for new electric vehicles and $4,000 for used electric vehicle
However, the one catch is that these funds will likely be unavailable until 2023, according to CNBC.
There is also a second rebate worth up to $8,000 that supports only homes that have had recent installations that cut energy costs.
A non-profit called RMI which focuses specifically on clean energy solutions is supportive of this initiative from the government.
