Are you interested in making some green updates to your home? New state and federal incentives may be able to help! There are many programs soon to be available that can help make your sustainable improvements more affordable.
Inflation Reduction Act Rebates
The Inflation Reduction Act created a suite of rebates and tax credits incentivizing weatherization and electrification for homeowners and renters. Use Rewiring America's Savings Calculator to see how much money you can get with the Inflation Reduction Act. All tax credits are available now. Rebates should start to become available by the end of 2023.
Eligible projects include things like:
Heat pump air conditioner/heater
Heat pump water heater
New/used electric vehicle
Electric vehicle charger
Rooftop solar installation
And much more...
Solar for Homeowners in a Homeowner Association (HOA)
If your HOA previously restricted solar installations, you may now be allowed to install solar on your roof thanks to a new law. The law applies to you if you belong to an HOA and live in:
A detached home if you are the sole owner and are responsible for the roof maintenance, or
A multi-family unit if you are the sole owner and are responsible for the roof maintenance.
These HOA homeowners cannot be denied solar by the HOA as long as they follow rules set by the HOA. The HOA is limited in what those rules can be.
HOAs can still impose some restrictions but those restrictions can’t raise your cost of installing solar by more than $1,000 or reduce your system’s production by more than 10%.
An HOA could not require that your solar not face the street if that is the most productive placement for solar on your home. This would reduce production by more than 10%.
An HOA could require that your solar panels not go above the peak of your roof, that they follow the plane of the roof, or that you use a licensed contractor.
Starting July 1, 2024, Minnesotans can get a rebate for the purchase of a new electric bicycle of 75% of the value of the bicycle, up to $1,500. You must assign the credit at the time of purchase to an eligible retailer, reducing the cost of purchase. The rebate will be available until June 30, 2026.
The amount of the rebate certificate is reduced 1% for each $4,000 the applicant makes over $25,000 or $50,000 for those married filing jointly until it reaches 50%, or $125,000 for individuals and $150,000 for those who are married and file jointly. You are still eligible for a 50% credit if you make more than that.
Air-source heat pumps heat and cool homes up to three times more efficiently than regular heating systems, and work for homes with and without ductwork. Plus, stack state and federal rebates for more savings! While you may already be eligible for a heat pump rebate from the federal government up to $8,000, Minnesota will have additional rebates available up to $4,000.
The Minnesota Residential Heat Pump Rebate Program has not launched yet. Eligibility for the Minnesota program while require first applying for a federal heat pump rebate. Sign up for updates on the program, and learn about how to start planning your project on the state's website.