Rebates for Heat Pumps and Electric Appliances: Lower Prices for Consumers
This Act establishes a federal program designed to lower the cost of purchasing and installing energy-efficient electric appliances, such as heat pumps and induction stoves. The program provides subsidies to manufacturers and installers, who are required to pass at least 85% of that rebate directly to consumers through reduced prices. Citizens can expect lower upfront costs for these products and potential savings on energy bills.
Key points
Mandatory Price Reduction: Manufacturers and installers must pass through at least 85% of the received rebate value to the end consumer as a reduced purchase price.
Wide Range of Eligible Products: Includes residential and industrial heat pumps, electric water heaters, induction cooktops, and smart electrical panels.
Financial Incentives: $10 billion is authorized for the program (FY 2025-2032); the rebates received are not considered taxable income.
Expired
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