Improving your home’s eco-friendliness can be more affordable with the right subsidies and grants. Here are 15 specific options that can help you make your home greener without breaking the bank.
1. Federal Residential Renewable Energy Tax Credit
This credit allows you to deduct 26% of the cost of installing renewable energy systems in your home, such as solar panels or wind turbines. It applies to both primary and secondary residences.
2. Energy Efficient Mortgage (EEM) Program
Offered by the Federal Housing Administration (FHA), this program allows homeowners to finance energy-efficient upgrades as part of their mortgage. This can include insulation, solar panels, and high-efficiency heating and cooling systems.
3. Weatherization Assistance Program (WAP)
Administered by the U.S. Department of Energy, WAP provides low-income households with funds to improve energy efficiency. This can cover insulation, air sealing, and upgrading heating and cooling systems.
4. Low-Income Home Energy Assistance Program (LIHEAP)
LIHEAP helps low-income families with their energy bills and energy efficiency improvements. Funds can be used for weatherization projects to reduce energy costs.
5. Rural Energy for America Program (REAP)
REAP provides grants and loans to rural small businesses and agricultural producers for renewable energy systems and energy efficiency improvements. This can include solar, wind, and energy-saving upgrades.
6. Database of State Incentives for Renewables & Efficiency (DSIRE)
DSIRE is a comprehensive database of incentives and policies that support renewable energy and energy efficiency in the United States. It includes state-specific grants and subsidies for homeowners.
7. Property Assessed Clean Energy (PACE) Financing
PACE programs allow homeowners to finance energy-efficient and renewable energy improvements through their property tax bill. This can cover solar panels, insulation, and efficient HVAC systems.
8. EnergyStar Rebate Finder
The EnergyStar Rebate Finder helps you locate rebates for purchasing EnergyStar-rated appliances and products. These rebates can significantly reduce the cost of upgrading to energy-efficient appliances.
9. Green Retrofit Program for Multifamily Housing
This HUD program offers grants and loans to improve energy efficiency in multifamily housing. Although aimed at property owners, it benefits tenants through reduced energy costs.
10. Solar Renewable Energy Certificates (SRECs)
Some states offer SRECs, which allow homeowners to sell certificates based on the amount of solar energy their panels produce. This can provide a significant financial return on solar panel investments.
11. State-Specific Solar Incentives
Many states, such as California and New York, offer their own solar incentives, including rebates and tax credits. These can significantly reduce the cost of installing solar panels.
12. High-Efficiency Electric Home Rebate Act (HEEHRA)
HEEHRA provides rebates for the installation of high-efficiency electric appliances and systems, such as heat pumps and induction cooktops. The act aims to promote cleaner, energy-efficient technologies in homes.
13. Clean Heating and Cooling Programs
States like Massachusetts and New York offer incentives for switching to clean heating and cooling systems. These programs can cover air-source heat pumps, ground-source heat pumps, and solar heating.
14. Home Performance with ENERGY STAR®
This program offers rebates and incentives for whole-home energy efficiency improvements. Participating contractors conduct energy audits and implement recommended upgrades, which can include insulation, air sealing, and efficient HVAC systems.
15. Utility Company Rebates
Many utility companies offer rebates for energy-efficient home improvements, such as insulation, window upgrades, and efficient heating and cooling systems. Check with your local utility provider for available programs.
Eco-Friendly Home Improvements
Taking advantage of these subsidies and grants can make eco-friendly home improvements much more affordable. By investing in energy efficiency and renewable energy solutions, you can reduce your environmental impact and save money in the long run. Start exploring these options today to make your home greener and more sustainable.
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The post 15 Little-Known Subsidies and Grants for Eco-Friendly Home Improvements first appeared on Liberty & Wealth.
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The content of this article is for informational purposes only and does not constitute or replace professional financial advice.
For transparency, this content was partly developed with AI assistance and carefully curated by an experienced editor to be informative and ensure accuracy.
