It’s no secret that the new administration in DC is taking a hard look at many government programs, including those in the so-called Green New Deal.Rebates for some electric vehicles have been reduced, depending on the type of vehicle you buy and where you’re located. And incentives for everything from heat pumps to electric appliances are bound to get extra scrutiny.
But as cost-cutting measures evolve from chainsaws to scalpels (which they inevitably will), many energy- and cost-saving programs may escape draconian cutbacks.
Let’s look at a few.
New Vehicle Rebates and Incentives
Most incentives are in the form of tax rebates that can range from $500-$7500 for buyers who meet certain income requirements and buy qualifying vehicles. Since tax law is written by Congress, these programs have a measure of protection from executive orders and budget cuts.
Many of the programs also are sponsored by state and local governments, as well as utility companies, so local and regional politics will have influences, too…for better or worse.
Some, such as support for electric vehicle (EV) charging stations, especially those for private residences, seem relatively safe for the time being. Learn the benefits of home EV charging in this article.
For more information about EV tax credits for Colorado residents, visit the EV CO website.
Heat Pumps
The benefits of heat pumps for heating and cooling homes and offices are well documented and the industry continues to develop more effective products for cold climates and hard-to-manage spaces in both homes and businesses. New products emerge almost weekly for a wide variety of applications, including whole house systems for Colorado’s climate, mini-splits for smaller spaces, and self-contained units for renters and others who can’t modify their dwellings. Many factors influence choosing a heat pump. Learn what’s best for you here.
Meanwhile, learn more about how heat pumps work and the economic and environmental benefits of heat pumps by following the links above.
Electric Appliances
While federal regulations may change, many local governments are severely restricting natural gas hookups to encourage (or prohibit) the use of gas-fired appliances. These restrictions, along with other measures, will probably cause local governments and utilities to continue offering savings on electric appliances. New homes will likely be built with all-electric kitchens and other appliances such as water heaters and clothes dryers.
If you’re considering a remodel or buying a new home, this article lists the potential benefits (and costs) of all-electric appliances.
Utility Companies
Utilities, although under increasing pressure from growing demands and aging grids, are likely to continue encouraging converting from fossil fuel, keeping at least some incentives at both the federal and local levels. But how much will they be able to offer the generous incentives of the past several years?
The costs of increasing capacity and upgrading the grid are staggering and every dollar the feds cut needs to be recovered somehow. Incentive, rebate, and discount programs are one area that could see cuts as these costs mount up. Recovering some can come from ratepayers, too, and evidence of that is Xcel Energy’s impending extension of peak rate charges from 7 pm to 9 pm on weekdays. But when push comes to shove, incentives may become casualties.
Concerned? Confused? Let Us Help
While upgrading your electric appliances and service is an excellent long-term investment, it can be challenging, and upfront costs can be high, so be sure to hire a reputable, licensed electrical contractor to do your work correctly and safely.
Choosing the right appliances and power systems and using them safely requires a knowledge of usage needs, electrical circuitry, and codes. If you’re thinking about adding safe, reliable electric vehicle charging, air conditioning, or appliances, or have any problems or concerns about your electrical service, the all-pros at Allstar Electrical Services are ready to help. We offer homeowners, builders, and businesses reliable, professional electrical work that is budget-friendly, safe, up to code.
Call Allstar Electricalat 303.399.7420 or visit our website. We’ve served Colorado’s Front Range for over 20 years, are top-rated by the BBB, and are an Angi’s® Home Advisor certified contractor.