The Inflation Reduction Act was primarily a piece of climate and infrastructure legislation.
But this year, a whole new portion of it is rolling out: HOMES rebates.
HOMES rebates help you save money as you green your home.
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Theres no waiting for a tax credit or shelling out money today hoping youll get it back tomorrow.
It will be built into the price of your purchase (if you qualify.)
There are two types of HOMES rebates.
While you might claim both, you cant claim them both on the same project/purchase.
Home Efficiency Rebates
The first key in of rebate under the HOMES program is home efficiency rebates.
Some states will run this program for residential housing, while others will focus on multi-unit properties only.
No Interest Til Almost 2027?
(Everyone else only qualifies for up to 50% of the project cost.)
Home Electrification and Appliance Rebates
The home electrification and appliance rebate cannot be applied retroactively.
Each state is building their own program.
Did you know?
That means this rebate could make your purchase free if you fall in the right income band.
Regardless of where you live.
States have the option to apply for administrative funding first, and then apply for full funding later.
Or, they can go straight to the full software, skipping over the administrative funding phase.
The final deadline for full program applications is January 31, 2025.
To date, four states have applied for full program funding.
The DOE has not funded any of these full applications just yet.
But programs could start rolling out as soon as this spring depending on where you live.
Lets take a look at your state.
Alabama
Funding applied for to date:Administrative only, funds already awarded.
Anticipated live date:Unknown.
Refunds available:Unknown.
Alaska
Funding applied for to date:Administrative only, funds not yet awarded.
Anticipated live date:Late 2024.
Refunds available:Home electrification and appliance rebatesandhome efficiency rebates.
Alaska plans to offer both types of rebates when its program goes live.
So were really working on making it work for our communities.
I think were going to have a lot of requests from DOE.
That is subject to change, though.
Anticipated live date:Sometime in 2024.
Arkansas
Funding applied for to date:None.
Refunds available:Undecided.
California
Funding applied for to date:Full program funding applied for, funds not yet awarded.
Anticipated live date:Soon once the federal government approves and funds Californias home electrification and appliance rebate utility.
Refunds available:Home electrification and appliance rebates at first, home efficiency rebates available at a later date.
Californias sequencing is the ideal situation.
Thats because the home electrification and appliance rebate cant be applied retroactively.
The sooner its accessible, the sooner your home improvement purchases will start counting.
The live date depends on how long DOE takes to approve and fund the states software.
Colorado
Funding applied for to date:Administrative funds already awarded.
Home electrification and appliance rebates applied for.
Colorado is working on its full app and intends to launch both rebate programs in late 2024.
Connecticut
Connecticut is in the planning phase for both rebate programs.
The launch date is currently unknown.
Delaware
Anticipated live date:Sometime in the second half of 2024.
Delaware plans on submitting its full software for funding in late spring or early summer.
After that, its subject to how long it takes the federal government to approve and fund its program.
It is our expectation that rebates may start rolling out in the second half of this year.
Florida
Theres been some back and forth on HOMES rebates in Florida.
When the governor rejected Inflation Reduction Act funding, it effectively cut the state off from these rebate programs.
Its known as theREBATE Act, but has yet to make it to the floor.
For right now, Floridians should not expect to qualify for HOMES rebates.
But theres still movement in this space.
Georgia
Funding applied for to date:Full program funding applied for.
Anticipated live date:Hoping for no later than Sept. 30, 2024.
Refunds available:Home electrification and appliance rebates and home efficiency rebates.
Hawaii
Anticipated live date:Late spring or early summer 2024.
Refunds available:Home electrification and appliance rebates first, home efficiency rebates later.
Hawaii was one of the first four states to apply for home electrification and appliance rebates.
Idaho
Anticipated live date:Late 2025 if the program runs at all.
Idaho is still deciding whether or not it will participate in HOMES rebates.
We are awaiting clarification from the DOE on certain aspects of the program guidance to inform our decision-making process.
Illinois
Funding applied for to date:None, full tool planned for mid-2024.
The state hopes to turn in its software in the middle of 2024.
Were hoping for early 2025.
Indiana
Anticipated live date:Mid- to late-2024.
Iowa
Funding applied for to date:None, but system will be filed.
Anticipated live date:Q4 2024
Iowa is another state offering both types of rebates.
Its too early to have a timeline for these programs in Kansas, but check back.
Kentucky
Anticipated live date:Mid- to late- 2025 at the earliest.
Kentucky is in the planning phase of its HOMES rebate programs.
Louisiana
Louisiana has received administrative funding, which indicates its participating in this program.
As for which specific rebates and when theyll be available, check back as more data rolls in.
However, that has not been confirmed by the Governors Energy Office.
Maryland
Anticipated live date:Second half of 2024.
Maryland is waiting for its administrative funds, but it is planning to offer both rebates.
Massachusetts
Funding applied for to date:None, full system likely turned in spring 2024.
Anticipated live date:Later in 2024.
The full utility is likely to be submitted this spring.
The program is expected to open later in 2024.
Massachusetts plans to target its program to low- and moderate-income households.
How and whether that will vary from the federal standards remains to be seen.
Michigan
Anticipated live date:October 2024.
That goal may shift depending on how long it takes the federal DOE to approve applications and disperse funding.
Anticipated live date:Late 2024 or early 2025.
Refunds available:Home electricity and appliance rebatesandhome efficiency rebates.
Mississippi
Anticipated live date:Hopefully the end of 2024 or beginning of 2025.
Missouri
Funding applied for to date:None, but system is in the works.
Anticipated live date:Early 2026.
Missouri is in the planning phase of its HOMES rebates programming.
However, we will make all efforts to get our applications submitted before that date.
It is aiming to overdeliver rather than set expectations too high.
Based on current planning and resources, we are presently targeting early 2026, Hyman said.
Montana
Refunds available:In process of deciding.
Nebraska
Nebraska is working on its software for full program funding.
There arent any other details currently, but check back.
Nevada
Refunds available:In the process of deciding.
Nevada is planning its program it will offer HOMES rebates.
But which ones and in what manner has yet to be decided.
It expects its program to be open to the public in late 2024 or early 2025.
New Hampshire is hiring the people it needs to make this program possible.
New Jersey
Anticipated live date:Early 2025.
New Jersey is planning on skipping the optional administrative funding phase and heading straight for full program funding.
These programs pre-existed the HOMES rebate program.
New Mexico is not one of those states, so its building everything from the ground up.
New York
Funding applied for to date:Full program funding applied for.
The system was approved and the state was awarded $158 million.
Anticipated live date:Progressive rollout, starting in the summer.
Refunds available:Home electrification and appliance rebates first.
Home efficiency rebates later.
New York is the first state to have its Home Energy Rebates program tool approved.
It is expected to be available to low-income homeowners before expanding to all eligible New York residents.
North Carolina
North Carolina submitted its program for administrative funding in mid-January.
It will use those funds to plan and prepare its full tool for both types of rebates.
The state is hopeful that the program will be available for the first rebate claims sometime in late 2024.
It hopes to have both programs up and running by the end of 2024 or beginning of 2025.
Ohio
Ohio does plan on participating in HOMES rebates and has received administrative funding.
Oklahoma
Anticipated live date:Sometime between early- to mid-2025.
Oklahoma does plan to participate in both rebate programs even though no system has been submitted yet.
It plans on these programs being live sometime between the beginning and middle of 2025.
Oregon
Anticipated live date:Possibly mid-2024, though probably a little later.
Oregon has been awarded administrative funding.
Pennsylvania
Anticipated live date:End of 2024.
Refunds available:Home electrification and appliance rebateandhome efficiency rebate.
Pennsylvania has received administrative funding and is working on getting its full software together for both types of rebates.
Rhode Island
Refunds available:Not decided yet.
Rhode Island is in the planning stage as it prepares to submit its software for full funding.
This is all subject to change pending further development of implementation plans in Rhode Island.
South Carolina
Anticipated live date:Sometime in 2025.
South Carolina is in the thick of the planning phase, but is still waiting for administrative funding.
South Dakota
South Dakota may or may not participate in the HOMES rebate program.
Tennessee
Funding applied for to date:None full program will be submitted in Q2 2024.
Anticipated live date:Beginning of 2025.
Utah
Utah doesnt yet have a timeline for when its program will open.
Its working to line everything up so the state can prepare to apply.
Vermont
Vermont would like to have its app for both rebates in by this summer.
Washington, D.C.
Washington, D.C., is awaiting administrative funding from the federal government.
Further details about the districts program are not available at this time, but check back for updates.
But the state does expect it to be live this year.
Immediately after the review, the state plans on submitting its software for full funding.
Thats subject to how long DOE takes to approve and fund the program, though.
Wyoming
Wyoming did accept the larger Inflation Reduction Act funding.
Status of HOMES Programs in U.S. She is a regular contributor to The Penny Hoarder.
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