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Inflation Reduction Act (IRA)
To view the original Energy Efficiency Incentives for Middleborough Households chart created by Sustainable Middleborough, click here
The data for this guide was compiled by Sustainable Middleborough with information from Rewiring America, DSIRE USA, and MASS energyCENTS
Quick Links
- Credits and Deductions Under the Inflation Reduction Act of 2022
- Inflation Reduction Act Savings Calculator
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Product | Federal Incentive | Federal Tax Credit | Masschusetts Tax Credit | Total Incentives Available (Including MGED Rebates) |
---|---|---|---|---|
Electric Panel Upgrade | 100% of costs (low income)/ 50% of costs (moderate income) up to $4,000 | 30% tax credit (max $600/year) if panel upgrade combined with other upgrades (e.g. heat pump). No max if upgrade is combined with installation of solar | N/A | up to $4,000 |
Electric Wiring | 100% of costs (low income)/ 50% of costs (moderate income) up to $2,500 | N/A | N/A | up to $2,500 |
Heat Pump Water Heater | 100% of costs (low income)/ 50% of cost (moderate income) up to
$1750 |
30% tax credit (max $2,000/year) | N/A | up to $4,500 |
Heat Pump Heat/Air Conditioner | 100% of costs (low income)/ 50% of costs (moderate income) up to $8,000 | 30% tax credit (max $2,000/year) | Equipment purchases are exempt from Mass. State sales tax | up to $13,750 |
Weatherization | 100% of costs (low income)/ 50% of costs (moderate income) up to $1,600 | 30% tax credit (max $1,200/year) Insulation & air sealing (max $1,200) Doors ($500) Windows ($600) Energy audits ($150) |
N/A | up to $5,050 |
Efficiency Rebates | 80% of project costs (low income)/ 50% of costs (moderate income) up to $4,000 for 35% energy reduction | N/A | N/A | up to $4,000 |
Energy Efficiency Mortgages | Homeowners can qualify to borrow funds beyond those in a regular mortgage to finance energy efficiency improvements through FHA, VA, and conventional mortgages and refinancing | N/A | N/A | N/A |
Battery Storage Installation | N/A | 30% tax credit for equip. and installation | N/A | 30% tax credit |
Geothermal Heating Installation | N/A | 30% tax credit for equip. and installation | N/A | 30% tax credit |
Rooftop Solar Installation | N/A | 30% tax credit (no max) | Tax credit for 15% of cost of renewable energy systems (solar panels, solar water heater, solar space heater, wind power) up to a max of $1,000. Equipment purchases are exempt from sales tax. Increased home value may be exempt from property tax | up to $16,000 plus a 30% tax credit |
New Electric Vehicle | N/A | $7,500 tax credit for vehicles with MSRP of $80,000 or less. Check if car meets requirements for North American manufacturing & sourcing | $3,500 rebate for battery/fuel cell EVs costing less than $55,000 or
$1,500 rebate for plug-in hybrid (MOR-EV program) |
up to $11,000 |
Used Electric Vehicle | N/A | $4,000 for cars with price of $25,000 or less. | State rebate program is scheduled to begin 7/1/2023. Details to be announced | up to $4,000 |
Level 2 Electric Vehicle Charger | N/A | 30% tax credit up to max of $1,000 | N/A | up to $1,300 |
Electric Stove/Electric Clothes Dryer | 100% of costs (low-income)/ 50% of costs (moderate income) up to $840 | N/A | N/A | up to $840 |