Learn more to reduce your energy footprint and save hundreds of dollars a year Dear John, The Inflation Reduction Act (IRA) was signed into law by President Biden in August 2022. This new law will help spur a clean energy transition and could save you and your family hundreds of dollars a year in energy savings! Some direct savings for households that the IRA provides include: Tax Credits for Residential Energy Efficiency Improvements The IRA provides access to expanded tax credits to households for energy efficiency improvements. Some improvements that qualify for this credit include upgraded windows, doors, insulation, HVAC systems, water heaters, and home energy audits. Homeowners can receive up to 30% back through tax credits for making energy efficiency improvements to their home – up to a maximum of $1,200 per year. Households can also receive a tax credit of up to 30% of the cost of property for rooftop solar and other residential clean energy systems. Eligible property includes:  · Residential solar and solar water heaters · Small wind · Geothermal heat pumps · Battery Storage · Fuel cells · Qualified biomass fuel property Residential Energy Incentives Q&A Tax Credits for New Clean Vehicles You may qualify for a credit up to $7,500 if you buy a new, qualified plug-in electric vehicle (EV or fuel cell electric vehicle (FCV). Qualified manufacturers and further details are listed on the IRS website linked below. Manufacturers and Models for New Qualified Clean Vehicles Tax Credits for Used Clean Vehicles Individuals can also receive a tax credit of up to $4,000 for certain used electric vehicles and plug-in hybrids purchased through a dealership. More details and information on the qualifications can be found on the IRS website linked below. Clean vehicle purchases made before 2023 do not qualify. Used Clean Vehicle Credit Rebates for Residential Energy Efficiency Improvements The Inflation Reduction Act also establishes two energy efficiency rebate programs that individuals can apply for: the HOME Rebates Program and the High-Efficiency Electric Home Rebate Program. These programs are not yet available to homeowners, but more information on these rebate programs can be found here. I strongly recommend that you and your family take advantage of these opportunities to reduce your energy footprint and save hundreds of dollars a year. Stay updated with the latest guidance by visiting [link removed]. Sincerely, Mark Takano Member of Congress ‌ ‌ ‌ Rep. Takano | 2078 Rayburn House Office Building, Washington, DC, DC 20515 Unsubscribe [email protected] Update Profile | Constant Contact Data Notice Sent by [email protected]