When do personal IRA incentives expire?

Welcome to My Next Electric, a newsletter on electrifying stuff. We cover:

• Educating ourselves on the energy transition — My Next Electric

• Investing in and around batteries — The Batteries Included Fund

• Electric vehicle design — Night Shift Bikes

Today, it’s your cheat sheet on EV, appliance and home upgrade credits.

The huge tax credits and rebates in the Inflation Reduction Act are still around, but not for long. If you’re on the fence, now might be time to move.

These are federal tax rebates, so you can get them in any state. Most folks qualify.

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A shout out to Canary Media’s Alison Takemura for ‘Use it or lose it’: These clean-energy tax credits will be gone soon. Her chart’s great, too.

Alumni of my class on going electric may remember the IRA broke big ground when it created NEED-BASED, POINT OF SALE REBATES of up to $22,000 per household! on appliances and home upgrades. These programs survived the big bill:

• HEAR - Home Electrification and Appliance Rebate works like a coupon on a new appliance or related install cost.

• HER/HOMES - Home Efficiency Rebate is a more complicated program that lets you use an approved contractor to make your home tighter. More bureaucracy, but often worth it.

The Home Electrification and Appliance Rebate program is awesome — cash rebates. Up front — in orange and purple states on the map. The number below if you’re at or below 80% of area median income. Half that if you’re between 80 and 150% of median income:

• Heat-pump water - $1,750

• AC/Heat pump - $8,000

• Electric stove/oven - $840

• Heat pump clothes dryer - $840

• Insulation, air seals - $1,600

• Breaker box upgrade - $4,000

• Wiring upgrades - $2,500

These apply to a list of appliances in each category, not anything off the shelf. The best first step to accessing these is learn how old your existing stuff is, so when it breaks, you don’t panic.

The Home Efficiency Rebate aka HOMES is intact, too, but like HEAR, it goes through states — the purple ones. These are more complicated home tightening programs. I’ve gone through this and it can be a hassle, but worth it.

These usually require more invasive moves into your attic and elsewhere, but they can have a big impact on how comfortable your home is and how much you save over time.

1. Head to Atlas Building Hub’s rebate tracker

2. Click on your state

3. Scroll to the now filtered spreadsheet

4. Click the link on the far right to get to your state’s official page

ATLAS REBATE TRACKER

This can be a lot. But don’t sweat; we got you. I’m hosting a class on going electric in early August!