Inflation Reduction Act Appliance Rebate Information
Make an Investment for a Greener Future
GE Appliances knows the importance of planning for a better future. Through our environmental responsibility programs, we’ve made great strides at becoming a greener company. We know there’s always more to do when it comes to the environment, and with the passing of the U.S. Inflation Reduction Act we’re ready to help you become greener, too.
What Is the Inflation Reduction Act?
The Inflation Reduction Act of 2023 (or IRA) aims to fight climate change via a long list of programs receiving grants, direct federal spending, and consumer incentives.
Through two homeowner-focused areas, consumers may qualify for part of the $8.5 billion reserved for Inflation Reduction Act rebates or tax credits of up to $2000.
You may be eligible to receive these credits or rebates for installing or upgrading certain energy-efficient appliances and equipment within your home.
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Let’s Get Into the Act
Tax credits of up to $2000 are available today.
High-Efficiency Electric Home Rebate Program
Geared toward assisting low-to-medium income homes save money on high-efficiency electric home appliances, section 50122 of the IRA specifies that qualifying families must earn a total annual income of less than 150 percent of the median income of the area where they reside. You can look up your area median income at a website provided by the Department of Housing and Urban Development.
Receive up to $840
in rebates on high-efficiency electric stoves, cooktops, ranges, ovens, and electric heat pump clothes dryers.
If your Area Median Income (AMI)
is less than 80% AMI:
Receive 100%
of the cost up to $840.
If your Area Median Income (AMI)
is between 80 to 150% AMI:
Receive 50%
of the cost up to $840.
HVAC Rebates
Upgrading your home HVAC systems to more energy-efficient systems can also earn rebates of up to $2,000. These rebates are also distributed by your state energy offices and can be used toward the installation of electric heat pumps that offer super-efficient cooling and heating.
Homeowner Managing Energy Savings Rebate
Section 50221 of the IRA relates to whole-home energy saving projects that retrofit a home with weatherization updates such as insulation or by installing efficient appliances like a heat pump. The size of the rebates will depend on how much energy will likely be saved by upgrading appliances or infrastructure of the home.
Energy Efficient Home Improvement Tax Credit*
The Energy Efficient Home Improvement Tax Credit, or 25C credit, allows households to receive a tax credit equal to 30% of the cost of upgrades to their homes. The 25C tax credit remains available for equipment installed by the end of 2025. Equipment installed in 2026 and later will not qualify for the 25C Tax Credit.
While 25C covers many types of energy-efficient home upgrades that are limited to $600 per measure, up to $1,200 per household per year, homeowners can receive up to a $2,000 tax credit for qualifying heat pump equipment.
* The availability of federal tax credits is dependent on federal law, which is subject to change by Congress at any time, and may be impacted by your personal tax situation. Information from the IRS regarding these tax credits is available at: https://www.irs.gov/credits-deductions/energy-efficient-home-improvement-credit
Where to Begin
To learn more about rebates and incentives available to you, search the Database of State Incentives for Renewables & Efficiency to find out if your state has set up its Inflation Reduction Act program. You can also check back to this page which we will update with further information as the state run programs become available. And in the meantime, you may use your zip code to search for other rebates available in your area.
For further information about the Inflation Reduction Act, check out these articles:
- Information from the White House about the U.S. Inflation Reduction Act.
- The Inflation Reduction Guidebook from the White House.
- Consumer Reports article on how IRA could affect appliance purchases.
- Bloomberg explains state IRA rebate distribution programs.
- Learn more about the Energy Efficient Home Improvement Tax Credit
- Find your state energy office here.