IRA invests record $8.5 billion in home energy upgrades

July 27, 2023

The Inflation Reduction Act’s $8.5 billion in funding for home energy upgrades is expected to save consumers $1 billion every year on their energy bills and support 50,000 jobs in a variety of sectors.

“The climate law includes ‘more incentive for homeowners around the country than has ever been before to really take stock of their house and their energy use and make a more climate-friendly change,...the more extreme weather events across the country only underscore the need for consumers to upgrade to more energy-efficient, climate friendly technologies.”

This article originally appeared in Politico on July 27, 2023:

The Biden administration said it will release $8.5 billion in funding on Thursday to help homes across the country lower energy costs and increase energy efficiency.

The new programs — provided through the Inflation Reduction Act — would enable U.S. households, particularly low-income residents, to save money on insulating their homes, installing heat pumps and upgrading to electric appliances.

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