Starting in 2023, there are federal rebates available from the “High-Efficiency Electric Home Rebate” program. These aren’t tax credits, they are point of sale rebates that homeowners will receive as discounts as they make approved improvements.
These rebates are tied to household income. To get the full rebate amount, your income must be 80 percent less of the Area Median Income (AMI); if your household income is 80 percent to 150 percent of the AMI, you can get 50 percent of each rebate amount; households with AMIs higher than 150 percent do not qualify for the program.
The law requires the Department of Energy to provide guidance to states and then each can set up it’s own program. Some states might add energy efficiency or other standards; some might reimburse contractors vs. operating rebate banks.
According to Fannie Mae, the AMI for the Washington are for 2022 is $140,500. That means those with household incomes of less than $112,400 will qualify for the full following rebate amounts, listed below; those with incomes between $112,400 and $210,750 can qualify for 50 percent of these amounts:
$8,000 – heat pumps when installed to replace existing gas-, oil-, or propane-burning furnaces or baseboard heat as the home’s sole heating source.
$1,750 – heat pump water heaters
$840 – heat pump clothes dryers
$840 – replace gas stove with electric model
$1,600 – insulation, air sealing, and ventilation improvements
$4,000 – electrical panel upgrade if needed to power above improvements
$2,500 – electrical wire upgrades if needed to power above improvements
$2,000 – air sealing, insulation and other retrofitting projects that reduce home’s energy usage by 20 percent or more; $4,000 if they say 35 percent or more
For households that make more than one improvement, there is a maximum rebate of $14,000.
Virginia Dominion Energy Customers
Dehumidifiers – $25 rebate for Energy Star-certified models
Washington Gas Customers in Virginia
Gas furnaces – $300 rebate for Energy Star-certified units with 92 to 95 AFUE; $400 for units with 95.1+ AFUE
Boiler furnaces – $400 to $700 rebate, depending on model
Storage water heaters – $100 to $150 rebate for Energy Star-certified models
Tankless water heaters – $350 to $400 rebate for Energy Star-certified models
Smart thermostats – $50 rebate for approved models