This reading will outline the incentives, tax credits, and rebates you can access through Electrify Asheville-Buncombe.
Federal IRA (Inflation Reduction Act)-
- DSIRE
- Federal Tax Credits
- Home Electrification Appliance Rebate (HEAR Program) Point of Sale IRA Rebates
- Home Efficiency Rebates (HER) Program Whole-Home IRA Rebate Program
- NCCEF (North Carolina Clean Energy Fund) financing
- Financing package through Electrify Asheville-Buncombe
- Duke Energy Rebates and Programs
- Trade Ally Program
- Smart Saver
- Power Pair
- EV Charger Prep Credit
- Additional Resources
- RMI Green Upgrades Calculator
- Rewiring America Electrification Planner
- Electrify Asheville-Buncombe Financing One-Pager
- Electrify Asheville-Buncombe Financing and Incentives Webinar recording
Federal Incentives through the Inflation Reduction Act:
- DSIRE:
- DSIRE is a website listing incentives and policies offered for renewables and energy efficiency at the federal, state, local, and utilities with at least 30,000 customers. Each state/territory has a detailed list of incentives and policies available in the surrounding area.
- DSIRE is a website listing incentives and policies offered for renewables and energy efficiency at the federal, state, local, and utilities with at least 30,000 customers. Each state/territory has a detailed list of incentives and policies available in the surrounding area.
- Federal Tax Credits:
- The Inflation Reduction Act was a landmark event in legislation geared towards climate and energy. With ample rebates and tax credits available, homeowners are in an ideal position to make the transition to clean energy in a quickly and affordably.
Check out the table detailing technology upgrades and credits:
- Home Electrification Appliances and Rebate (HEAR) program Point of Sales IRA Rebates:
- Funding for home electrification equipment will be allocated to states individual programs. Expected rollout of state programs is 2025.
- Home Efficiency Rebates (HER) Program Whole-Home IRA Rebate Program:
- Home Efficiency Rebates are not yet available, but are expected to launch in 2024. The U.S Department of Energy keeps a tracker of all states and territories that have applied for or received funding.
Inflation Reduction Act of 2022
North Carolina Clean Energy Fund (NCCEF):
The North Carolina Clean Energy Fund offers a loan exclusively offered through Electrify Asheville-Buncombe. Financing is offered for a variety energy-saving improvements, including:
- High-efficiency heat pumps—including using up to 30% of the loan for related electrical upgrades
- Heat pump hot water heaters
- Air sealing and insulation
- Energy-saving projects for mobile homes
- All approved Electrify Asheville-Buncombe Contractors are eligible to offer the unique financing that is available through Self-Help Credit Union and with improved rates made possible by Buncombe County.
- 2.99% admin fee – comparable to a credit card processing fee
- $2.5k – $50k depending on credit
- 5, 10, 15 year loans
- Fixed interest rates between 5.5% – 9% depending on credit
Full terms and rates description
Duke Energy:
- Duke Trade Ally Program:
- This resource is for contractors interested in becoming a Duke Trade Ally. Trade Ally's are able to offer incentives that are exclusive to Duke Energy.
- Duke Energy Smart Saver:
- Make energy efficient improvements on your home insulation, sealing, heating, and cooling through a participating contractor. Once the application is submitted by your contractor, you can choose how to receive your rebate.
- Duke Energy EnergyWise Home:
- This programs purpose is to lower energy usage during periods of high demand. EnergyWise offers smart thermostats, AC/Heat strips, water heaters, battery storage.
- Duke Energy PowerPair:
- Pair solar panels and battery storage for clean solar energy day and night. This program offers rebates upwards of 9,000 for solar and battery systems along with annual usage bill credits throughout the year.
- Duke Energy EV Charger Prep Credit:
- Duke Energy EV Charger Prep Credit pays for the infrastructure for installing the EV charger through rebates and incentives upwards of $1,236.
Electric Vehicle Credit Website
Additional Resources:
Rewiring America Electrification Planner- The personal Electrification Planner incorporates incentives offered through the Inflation Reduction Act and includes a personalized predictive modeling based on your home type and a project guide.
RMI Green Upgrade Calculator- This free calculator allows users to quickly assess lifetime costs and environmental benefits of residential decarbonization solutions.
Electrify Asheville-Buncombe Financing One-Pager- A summarized electrification resource report.
Electrify Asheville-Buncombe Financing and Incentives Webinar recording- Hear from experts from Duke Energy, the North Carolina Clean Energy Fund, and The North Carolina Clean Energy Technology Center about resources available for home electrification.
