NEWS

Red & blue states want funding to green homes

April 29, 2024

A dozen states – both red and blue – have applied for IRA funding that will give homeowners access to over $8.8 billion in tax rebates and credits to green their homes, indicating that energy efficiency is a bipartisan issue.  AnnDyl CEO and President Kara Saul Rinaldi spoke to CNBC about the two buckets of funding that are available: Home Electrification and Appliance Rebates and Home Efficiency Rebates.

"I hope that at this time next year we have 50 states with rebate programs," said Kara Saul Rinaldi, CEO and founder of AnnDyl Policy Group, a consulting firm focused on climate and energy policy.

Additional Insights from Kara:

“While their goals are the same — largely, to reduce household energy use and greenhouse gas emissions — the two programs' approach to household energy savings differs.”

“The Home Electrification and Appliance Rebates program pays consumers a maximum amount of money for buying specific technologies and services.”

“In contrast, the Home Efficiency Rebates program is technology neutral.”

“The value of the rebates are tied to how much overall energy a household saves via efficiency upgrades. The deeper the energy cuts, the larger the rebates.”

The story was originally published by CNBC.com on Earth Day (April 22) 2024.

The federal government is issuing $8.8 billion for Home Energy Rebates programs through states, territories and tribes, which must apply for the funding. The U.S. Department of Energy approved the first application for New York on April 18, awarding it an initial $158 million.

The DOE is hopeful New York will open its program to consumers by early summer, according to Karen Zelmar, the agency’s Home Energy Rebates program manager. The state has the fourth-largest total funding allocation, behind California, Texas and Florida.   

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