Americans can claim up to $24,000 this summer thanks to ‘milestone’ policy – ​​upgrading a single home could earn you an instant $8k

FAMILIES could claim thousands of dollars this summer to make certain improvements to their homes.

New Yorkers could benefit from up to $24,000 in rebates by following two federal and state programs.

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This scheme came from the federal Inflation Reduction Act, signed in 2022 to help promote clean energy.

New York State will now offer certain households up to $14,000 for energy efficiency upgrades made to homes as part of the law’s Home Electrification and Appliance Rebates program.

Officials hoped this financial incentive would encourage people to make changes to properties that would reduce carbon emissions and help reduce energy bills, according to CNBC.

The HEAR scheme was launched on May 30 as part of the state’s rebate program.

Homeowners should be aware that this program is only available to low-income families and has a specific eligibility requirement that people must meet.

Beneficiaries must be single-family households, between one and four people, and have an income 80% lower than the average income in their area.

The state will also have specific financial limits for certain energy saving projects.

A maximum of $8,000 could be spent on heat pumps and up to $1,750 would be donated toward heat pump water heaters.

Up to $2,500 would be invested in electrical wiring upgrades and up to $4,000 could be spent on electrical service upgrades.

Finally, a maximum of $1,600 will be invested in air sealing, insulation and ventilation.

Another important rule of the HEAR program is that rebates and labor quotes will be delivered by state-qualified contractors, according to CNBC.

The start of the program was praised and labeled a “milestone” by Kara Saul Rinaldi, head of a climate and energy consulting firm called AnnDyl Policy Group.

“In the next year we will see these programs being implemented across America,” Rinaldi said.

Families could benefit from up to $24,000 in cost savings if HEAR was paired with New York State’s EmPower+ program.

This scheme would help low and moderate income households make energy saving changes.

Low-income households could receive up to $10,000 as part of this scheme.

New York could provide even more money to certain households as the state has applied the second part of the Inflation Reduction Act called Home Efficiency Rebates, according to an Energy.gov report. Press release.

This scheme will help finance changes that could reduce energy consumption by at least 20%.

Eligible families would receive $8,000 to do so.

Although New York was the first state to implement the program, other states have asked the federal government for their share of the funding.