flexiblefullpage - default
interstitial1 - interstitial
Currently Reading

Preparing as a Remodeler for the Inflation Reduction Act

Advertisement
billboard -
News

Preparing as a Remodeler for the Inflation Reduction Act


By Nicole Tysvaer September 15, 2022
inflation reduction act
Photo: Tada Images | stock.adobe.com

Since the recent passage of the Inflation Reduction Act (IRA), the green building industry has been buzzing with enthusiasm for the more than $50 billion in federal funding to support energy efficiency upgrades for homes and commercial buildings. 

Beginning 2023, the legislation includes $9 billion to support retrofit installations of equipment and materials such as HVAC heat pumps, new electric appliances, insulation, and electric panel upgrades for qualifying low- and moderate-income households. 

Other initiatives, such as the Home Energy Performance-Based Whole-House Rebate (HOMES) program and the Energy Efficiency Home Improvement credit (25C), will provide thousands of dollars for upgrades to households regardless of income. 

RMI, formerly the Rocky Mountain Institute, estimates that more than 10 million homes will benefit from these climate action incentives. Clearly, this will be a massive undertaking for the home improvement industry, and it’s been hailed as the largest piece of climate legislation in history.

 

Impact on Business

Undoubtedly, this juggernaut of resources will have a significant impact on the construction industry. 

Remodeling projects are always expensive, especially if you're talking about a deep energy retrofit, which calls for a dramatic reduction in gas and electricity consumption as we undergo renovations for kitchens and bathrooms, etc. 

Every dollar toward those projects helps. And these resources will make it easier for homeowners to expand the scope of their projects to maximize their energy-efficiency upgrades.

 

Continue reading on the Model ReModel project site here.


Add new comment

Plain text

  • No HTML tags allowed.
  • Web page addresses and email addresses turn into links automatically.
  • Lines and paragraphs break automatically.

Related Stories

NAHB Remodeler of the Year: Robert Greaves

By prioritizing employees, customers, and community, People Come First Construction Group rises to the top of the remodeling ranks

Leading with HEART: A Remodeler's Book on Leadership, Company Values

F.H. Perry Builder Owner Allison Iantosca shares the experience of writing a book based on her company's values

New York Bans Gas in New Builds

The most recent regulation toward electrification comes from New York

Remodeler Market Sentiment Edges Up Despite Challenges

Market continues to grow, but slower than 2022 

How Do ChatGPT and Remodeling Go Together?

How are real-world remodelers using AI—and how are we?

Large Stock of Aging Homes Signals Remodeling Growth

The majority of US housing stock was built before 1969

Two Leading Women in Construction Events Unite

Join us for the Women in Residential + Commercial Construction Conference in Nashville, October 25-27, 2023. 
 

Study Finds Remodelers’ Net Profits Declined

How far did net profits decline and what's influencing the drop?

Software Company to Award $150,000 to Home Service Company Owners

The grant program is intended to help strengthen small businesses

Builders Focus on Remodeling as New Construction Declines

Some builders hope to benefit from remodeling's strength, giving a slight boost to new construction confidence

Advertisement
boombox1 -
Advertisement
native1 -

More in Category




Advertisement
native2 -
Advertisement
halfpage1 -