In Denver, James Warren and Hayley Schroeder celebrated installing a new heat pump funded by federal tax credits, part of a larger trend where millions of U.S. households are using tax credits and upcoming rebates from the Inflation Reduction Act to make their homes more energy-efficient.
Colorado Households Celebrate New Heat Pumps and Federal Tax Credits Boost Clean Energy Adoption
According to CPR. in Denver, James Warren and Hayley Schroeder celebrated the installation of a new Mitsubishi heat pump at their home, partly funded by federal tax credits from the Inflation Reduction Act. This event, attended by Governor Jared Polis, is part of a bigger effort to boost clean energy use. Last year, almost 66,000 households in Colorado took advantage of these tax credits, helping make homes more energy-efficient.
Across the U.S., over 3.4 million households used tax credits to cover the costs of solar panels, heat pumps, and other energy-saving upgrades, spending about $8 billion. These credits are more popular than expected, and the total amount is likely to be higher than first thought. The Inflation Reduction Act also includes $9 billion in rebates, which will be available right away, making it easier for people to afford these improvements.
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$8 Billion in Tax Credits: Colorado Leads the Charge in Clean Energy Adoption (PHOTO: Colorado Capital Management)
Colorado to Launch $140 Million Rebate Program for Energy-Efficient Upgrades This Winter
Colorado is planning to start its rebate program this winter, once it gets federal approval. The state has asked for more than $140 million to help low- and moderate-income families with energy-efficient upgrades. This program will add to local and state incentives, helping more Coloradans save on energy bills and use cleaner technologies.
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