Best Home Energy Rebates and Tax Credits for 2024

Our top pick for 2024 is the Heat Pump for Space Heating and Cooling. This system excels by providing both heating and cooling in a highly efficient manner, which can significantly reduce your energy bills. What makes this option even more appealing is the substantial rebate available through the High-Efficiency Electric Homes and Rebates Act (HEEHRA). Qualifying households can receive up to $8,000, which can cover up to 100% of the installation costs for some. On top of that, you can benefit from federal tax credits worth up to $2,000 per year. This investment not only saves money but also supports a greener environment.

The Heat Pump Water Heater is our runner-up, offering up to 75% greater efficiency compared to traditional water heaters. This translates into significant energy savings over time. Eligible households can take advantage of rebates up to $1,750, making the initial cost much more manageable. Additionally, federal tax credits of up to $2,000 per year further enhance its affordability. This energy-efficient upgrade is an excellent choice for homeowners aiming to reduce their energy consumption without compromising on performance.

On a tight budget? The Electrical Panel Upgrade is our top budget-friendly pick. This crucial upgrade is often a prerequisite for further energy-efficient improvements in your home. Qualifying households can receive rebates up to $4,000, covering up to 100% of costs for those with lower incomes. Additionally, you may be eligible for a federal tax credit worth up to $600 per year. This makes the Electrical Panel Upgrade an affordable and essential step towards increasing your home's energy efficiency.

If improving your home's overall energy performance is your goal, consider investing in Home Insulation, Air Sealing, and Ventilation. These enhancements can lead to substantial energy savings, potentially reducing heating and cooling costs by up to 15%. Eligible households can receive rebates up to $1,600, covering up to 100% of costs for lower-income homes. Proper insulation and sealing not only create a more comfortable living environment but also make your home significantly more energy-efficient.

For those looking to upgrade their household appliances, the Electric Heat Pump Dryer is a fantastic option. More efficient than conventional dryers, this appliance is both ventless and energy-efficient, making it versatile for various installation scenarios. Households eligible for rebates can receive up to $840, covering up to 100% of the costs for low-income applicants. This makes the Electric Heat Pump Dryer a smart and economical choice for those looking to enhance their home's energy efficiency.