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.
Shop Our Efficient Appliances
Induction Cooktops
Induction Ranges
Heatpump Dryers
HVAC
Let’s Get Into the Act
Tax credits of up to $2000 are available today. Rebates, however, are not yet available. Though the Inflation Reduction Act was signed 2022, each individual state must create its own rebate program through its state energy office. Some states may be ready to offer their rebate programs to consumers in early 2024, but many more will not likely distribute incentives until late 2024 or early 2025.
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 (Section 25C) is available to taxpayers for receiving a home energy audit with professional guidance on making home upgrades with energy-efficient improvements, including heating and cooling appliances. To be eligible for the tax credits, homeowners must:
- Set up a home energy inspection with a qualified home energy auditor.
- Receive a signed report identifying the top improvements to achieve the most cost-effective, energy-efficient impact on your home.
- Have qualified energy-efficient appliances and improvements installed.
The associated home energy audit tax credit allows for 30% towards the cost of the home audit (up to $150 a year), up to $2,000 per year on qualified heat pumps, and credit up to $600 per item for qualified energy appliances that meet the Consortium for Energy Efficiency (CEE) highest tier for efficiency which includes:
- Natural gas, propane, and oil water heaters.
- Natural gas, propane, and oil furnaces and hot water boilers.
- Central air conditioners.
Other heating systems with thermal efficiency ratings at least 75% can receive up to $2,000 credit per year and may include installation labor costs. These systems include:
- Biomass stoves and boilers.
- Electric and natural gas heat pumps.
- Electric and natural gas heat pump water heaters.
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.