Get a $600+ credit on a better breaker box

Electricity flows into your home through your breaker box (aka electrical panel), like water flowing through a pipe. The panel’s size determines how much electricity can flow into your home.

A new electrical panel can save up to 30% on your monthly electrical use. This is because a new panels are designed to more efficiently channel power to where it needs to be inside your home.

To help you home handle the load from new electric appliances, the IRA created tax credits and rebates to help you upgrade your breaker box and/or electrical wiring!

What’s the gist?

• How to save - Low-income households can take advantage of the $4,000 rebate for electrical panels and $2,500 for wiring. For those with higher annual incomes, you can still get a 30% tax credit, up to $600 per year.

• Who qualifies? - Everyone, but your savings will also depend on details such as your income, location and whether you own you home.

• When is it available? - Our best guess is that the rebates may start to become available by the end of 2024.