Utilizing the Inflation Reduction Act in Connecticut
The implementation of the Inflation Reduction Act in 2023 will be beneficial for so many homeowners, including all of our customers in the Eastern Connecticut area! This piece of legislation was passed to help homeowners and business owners offset the cost of energy-efficient upgrades through tax credits and rebates.
Read on to learn how the IRA can help you save money this year.
What Does the Inflation Reduction Act Mean for Homeowners?
The IRA is creating the perfect environment to make some energy-efficient upgrades at a reduced cost this year. The tax credit portion allows you to claim up to 30% of your project’s cost on your taxes next year, with the limit of $1,200 per year.
New energy-efficient appliances, new insulation, air sealing, and new windows or doors all quality for this tax credit. If you utilize the tax credit, you will not only see it directly benefit your 2023 tax return, but it will also help lower your energy bills all year.
Cash Back Opportunities
The HOMES Rebate program allows you to get direct cash back on certain projects. Depending on your income level, the entire cost of the project might be covered.
Guided by your income level and the project you choose, the amount of money you get back will be based on how much money you are projected to save over the life of the upgrade.
EnergizeCT is also going to be a great resource for you. They have a rebate incentive going right now that can help you get up to $1.70 back per square foot on certain insulation projects. The project must be approved by a contractor and fall under their listed projects, but it can save you a tremendous amount of money!
Are There Other Rebates Available?
Yes! While the IRA is benefiting everyone across the United States, each state is rolling out their incentives differently.
If you live in the Norwich area, you qualify for $1–1.50 back per square foot of wall or attic insulation materials! It just has to be installed by a professional insulation company (that’s us!) for you to benefit from this rebate.
In the Groton area, residents can take advantage of a variety of rebates, including one for attic insulation! You can get up to $2.50 back per square foot, and all you have to do is apply. We can help you determine what project best suits your needs. Just give us a call!
Invest in new insulation this year! Our Koala Insulation of Eastern Connecticut team is here for you.
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We Provide Insulation Services to the Following Eastern Connecticut Areas
AMSTON, NEW LONDON, EAST LYME, BOZRAH, GALES FERRY, MASHANTUCKET, LEDYARD, GROTON, JEWETT CITY, MONTVILLE, MYSTIC, NIANTIC, NORTH STONINGTON, NORWICH, PRESTON, OAKDALE, OLD LYME, QUAKER HILL, STONINGTON, PAWCATUCK, TAFTVILLE, UNCASVILLE, VOLUNTOWN, WATERFORD, YANTIC, COLCHESTER, SALEM, EAST HADDAM, MARLBOROUGH, MOODUS, ELLINGTON, MANCHESTER, BOLTON, VERNON ROCKVILLE, SOMERS, STAFFORD SPRINGS, TOLLAND, WILLIMANTIC, ANDOVER, BROOKLYN, CHAPLIN, COLUMBIA, COVENTRY, DANIELSON, DAYVILLE, EASTFORD, EAST KILLINGLY, HAMPTON, HEBRON, LEBANON, MANSFIELD CENTER, NORTH FRANKLIN, NORTH GROSVENORDALE, NORTH WINDHAM, POMFRET CENTER, PUTNAM, QUINEBAUG, SCOTLAND, SOUTH WINDHAM, STORRS MANSFIELD, THOMPSON, ASHFORD, WILLINGTON, WINDHAM, WOODSTOCK, WOODSTOCK VALLEY, BALTIC, CANTERBURY, CENTRAL VILLAGE, GILMAN, MOOSUP, ONECO, PLAINFIELD, STERLING, WAUREGAN
Counties Served
TOLLAND, NEW LONDON, MIDDLESEX, HARTFORD, WINDHAM
Zip Code
06231, 06320, 06333, 06334, 06335, 06338, 06339, 06340, 06349, 06351, 06353, 06355, 06357, 06359, 06360, 06365, 06370, 06371, 06375, 06378, 06379, 06380, 06382, 06384, 06385, 06389, 06415, 06420, 06423, 06447, 06469, 06029, 06042, 06043, 06066, 06071, 06076, 06084, 06226, 06232, 06234, 06235, 06237, 06238, 06239, 06241, 06242, 06243, 06247, 06248, 06249, 06250, 06254, 06255, 06256, 06259, 06260, 06262, 06264, 06266, 06268, 06269, 06277, 06278, 06279, 06280, 06281, 06282, 06330, 06331, 06332, 06336, 06354, 06373, 06374, 06377, 06387
