PROVIDENCE – Rhode Island is receiving a $63.8 million allocation to help implement new home energy rebate programs set up under the Inflation Reduction Act, state leaders announced on Wednesday.
The funding comes from the Democrats’ Inflation Reduction Act, which was signed into law by President Joseph Biden in August. The allocation will allow the R.I. Office of Energy Resources to set up rebate programs that will upgrade households and help cut energy costs.
“Thanks to the Inflation Reduction Act, $63.8 million in energy savings and financial relief is coming soon to Rhode Island households,” said Sen. Jack Reed, D-R.I. “We passed the Inflation Reduction Act to benefit utility ratepayers, both in terms of their pocketbooks and in terms of improved air quality and reduced emissions. This is a smart investment in improving energy efficiency, reducing waste, and helping people save with residential energy rebates.”
Through the Inflation Reduction Act, the U.S. Department of Energy has announced nearly $9 million in funding for states and tribes for new energy rebate programs to make homes more energy efficient, upgrade appliances and cut energy costs. It is estimated that these programs will save households up to $1 billion annually and will allow 1.6 million households to upgrade to lower energy bills, incentivizing the installation of up to 500,000 heat pumps and improving insulation and ventilation systems, among other upgrades.
“Our landmark Inflation Reduction Act was packed with opportunities for Rhode Island families to save money on their energy bills,” said Sen. Sheldon Whitehouse, D-R.I. “These rebate programs will help homeowners cover the costs of energy-efficient home improvements and upgrades to new, greener electric home appliances. That’s a win-win for families and our environment.”
Programs will include home energy performance-based, whole house rebate programs, supporting energy efficiency retrofits in single-family and multi-family homes, and high-efficiency electric home rebate program, providing families rebates to upgrade to cleaner, more efficient electric appliances.
“My colleagues and I passed the Inflation Reduction Act because we wanted to put money back in the pockets of Rhode Islanders, while also making strategic investments in the health of our planet. This program does exactly that,” said Rep. James R. Langevin, D-R.I. “I’m thrilled that this federal funding will make it more affordable for Rhode Islanders to upgrade their homes and provide a greener way for them to heat their homes this winter.”
“As we look to build a more energy efficient country, I remain focused on how we can use new technologies to help Rhode Islanders lower everyday costs,” said Rep. David Cicilline, D-R.I. “These home energy rebate programs are a forward-thinking, long-term solution to help Rhode Islanders bring their energy costs down and keep them down. This $63.8 million from the Inflation Reduction Act is an investment in our families, our economy and our green future.”
The U.S. Department of Energy is expecting the funding to states will be available by spring 2023 and the rebates will be offered later next year.
