Colorado residents are eligible for up to $7,500 this year as an energy company is offering extra cash for those taking on new appliance and energy efficiency projects.
Holy Cross Energy provides rebates to those as long as they meet certain income criteria. Households that earn up to 150 percent of the area median income could qualify if they plan to take on a new project this year.
Specifically, those in a four-person household could earn up to $177,450 to take advantage of the rebate.
"We're proud to offer a variety of energy efficiency and smart electrification rebates to help our members invest in high-efficiency equipment for their home or business," Holy Cross Energy said on its website.
"By helping our members with some of the upfront cost of these sometimes costly upgrades, these incentives reduce the co-op's overall energy consumption, lower participants' energy costs, and encourage members to choose electric options over natural gas, propane, or other fossil fuel alternatives."
The company is incentivizing the electric projects as it aims to provide 100 percent clean energy to members by 2030.
The amount available is either $7,500 per year or 50 percent of a qualifying project's cost.
However, that's not where the free money ends. Even if you don't make the right amount for the income-qualified program, you could score up to $3,000 for a project this year.
Qualifying projects include cold climate heat pumps for heating and cooling, which can typically cost more than $3,500.
But there's also the same rebate available for full insulation and air-sealing in electrically heated buildings. Specifically, your insulation must result in at least a 10 percent reduction in air leakage from a home and also meet the 2018 International Energy Conservation Code requirements.
Those getting heat pump dryers, water heaters and induction cooktops are also covered under the Holy Cross Energy rebate.
Beyond that, you can score $50 for a new electric bike or even $699 for a home electric charger.
Even your lawn equipment can get a leg up under the rebate program, with new electric equipment earning a 25 percent rebate of up to $150 for both electric lawnmowers and snow blowers.
Electric chainsaws also get $50, whether you're purchasing a new electric trimmer, leaf blower or power washer.
And any new residential construction could earn you 25 percent of the total cost up to $15,000 per home, with new commercial and multifamily projects liable to receive $30,000 per building.
Holy Cross Energy's rebates come courtesy of the ReEnergize Eagle County program, which is helping the area adopt more electrification and sustainability. Today, a majority of Eagle County has building codes that encourage all-electric homes or conversion of preexisting homes to full electric services.
According to Zack Hellman, the founder of Tax Prep Tech, rebates like these might become increasingly common in 2024.
"The trend towards such rebates may continue as there's an increasing focus on sustainable energy solutions and reducing carbon footprints," Hellman told Newsweek.
In California, a similar direct payment is available via the Clean Vehicle Rebate Project. New York, meanwhile, offers a Drive Clean Rebate for Electric Cars, and Massachusetts offers a MOR-EV program.
"These programs support efforts to reduce carbon emissions and encourage the adoption of renewable energy technologies," Hellman said. "As awareness and commitment to environmental sustainability grow, it's likely that more such incentives will be offered across the country."
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