The Department of Energy (DOE) is one step closer to pumping billions of dollars in tax dollars to partially fund the Biden administration’s electrification push with kickbacks from consumers.
The DOE on Thursday set guidelines for states to apply for $4.28 billion in Inflation Act (IRA) funding, and states will distribute this money to consumers who are paying for the Biden administration’s energy transition push. can provide. according to To E&E news. The subsidy will help consumers cover the cost of buying relatively expensive appliances, such as electric stoves and certain types of heat pumps, which the government has encouraged through regulatory action.
Biden administration frequent highlight More efficient appliances combat climate change and save consumers money in the long run. Energy efficient appliances may use less energy but have a higher upfront cost than inefficient appliances. according to to the American Energy Alliance. Moreover, the fact that tax dollars are used to subsidize such equipment suggests that it would otherwise not succeed in the free market.
The Department of Energy’s Efficient Electric Home Rebate Program will allow Americans below a certain income threshold to access tax money to buy certain appliances and reduce their utility bills, according to the paper. DOE website. According to E&E News, the Biden administration sees the fund as a “significant drag” for Americans as regulatory action and macroeconomic conditions drive up costs to consumers.
According to E&E News, the program will ultimately allow consumers to buy things like $1,750 for a heat pump water heater, $8,000 for a heat pump that produces the desired ambient temperature in their home, and $840 for an electric stove.
The Biden administration and the Department of Energy have put forward a number of new regulations targeting appliances such as water heaters, gas stoves and heat pumps, each of which could raise the initial cost of appliances. have a nature. (Related: San Francisco Bay Area gas appliance war could lead to more blackouts, experts say)
Reporter:
“We’ve seen them go after gas stoves…how many more appliances will Americans end up having to replace?” pic.twitter.com/JgjQyiPGK0
— Daily Caller (@DailyCaller) July 24, 2023
The DOE believes the rebates could create up to 50,000 jobs and save consumers up to $1 billion in utility bills. according to to that website. The kickback is part of the Biden administration’s larger environmental agenda. the purpose Achieve net zero carbon emissions in the power sector by 2035 and across the U.S. economy by 2050.
“This is a very big deal,” said Undersecretary of Energy David Turk, according to E&E News. “We expect these rebates to begin rolling out to consumers in select states as early as the end of this year and continue to roll out in 2024.”
The DOE did not respond to a request for comment.
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