Enable a Greener Outlook
Monogram Appliances works to create a better future through environmental responsibility. We created programs to guide us toward becoming a greener company and invite consumers to join us in fighting climate change for our world. Through the U.S. Inflation Reduction Act of 2023, you can create a more environmentally efficient home and receive tax credits and/or rebates while doing so.
About the Inflation Reduction Act
What Is the Inflation Reduction Act? Also called IRA, this act was passed by Congress to combat climate change via numerous programs that will receive direct federal spending, grants, and incentives for consumers. Two main parts focus on homeowners and include $8.5 billion reserved for rebates and tax credits of up to $2000 for upgrading energy-efficient appliances and making energy updates to their homes.
Details About the Act
Tax credits of up to $2000 are available now. However, consumer rebates must be set up by each state through programs directed by state energy offices. Some states may offer their rebate programs to consumers in early 2024, but many need more time to set up these programs and will not likely distribute incentives until later in 2024 or early 2025.
High-Efficiency Electric
Home Rebate Program
Aimed at assisting low-to-medium-income homes save on purchases of high-efficiency electric home appliances, the IRA specifies that qualifying families must earn a total annual income of less than 150 percent of the median income of the area where they reside. Find your area median income at this website provided by the Department of Housing and Urban Development.
Receive up to $840 in rebates on high-efficiency electric stoves, cooktops, ranges, ovens, and electric heat pump clothes dryers.
If your Area Median Income (AMI)
is less than 80% AMI:
Receive 100%
of the cost up to $840.
If your Area Median Income (AMI)
is 80 to 150% AMI:
Receive 50%
of the cost up to $840.
Homeowner Managing
Energy Savings Rebate
This section of the IRA relates to whole-home, energy-saving updates such as weatherization updates, upgrading insulation, or installing efficient appliances such as a heat pump. The rebate size will depend on how much energy can be saved by upgrading the appliances or the infrastructure of the home.
Shop Efficient Products
Start Changing Our World
To learn more about the rebates and tax incentives available, search the Database of State Incentives for Renewables & Efficiency to see if your state has created its Inflation Reduction Act program. Also, check back to this page which we will update with further information as state-run programs become available. In the meantime, use your zip code to search for other rebates available in your area.
For more information about the Inflation Reduction Act, check out these articles:
- Information from the White House about the U.S. Inflation Reduction Act.
- The Inflation Reduction Guidebook from the White House.
- Consumer Reports article on how IRA could affect appliance purchases.
- Bloomberg explains state IRA rebate distribution programs.
- Learn more about the Energy Efficient Home Improvement Tax Credit
- Find your state energy office.