See the IRA Rebate Program in action
with Samsung products & appliances
Get your energy-efficient appliance act together and save.
It’s not often the government offers rebates on simple home improvements and appliance upgrades, but when they do, it’s probably a great idea to see if you qualify and how you can benefit. In this case, the Inflation Reduction Act of 2022 (IRA), the largest single investment in climate mitigation and energy efficiency in American history, offers Americans an incredible opportunity to save money on qualified electric cooktops and ranges, heat pump dryers, and home energy improvements with rebates. One purpose of the IRA is to help homeowners use energy more efficiently by incentivizing their investment in eco-conscious appliances, insulation, heat pump HVAC and heat pump water heaters. It’s a terrific opportunity to take advantage of if you can. Let’s take a look at how IRA works, and some examples of how you can make the most of it.
Energy- and wallet-friendly appliances to lower your carbon footprint
6.3 cu. Ft. Smart Rapid Heat Induction
Slide-in Range
4.0 cu. Ft. Electric Dryer with AI Smart Dial and Wi-Fi Connectivity
What are the IRA home rebates and how do they work?
For those interested in lowering their energy costs, reducing their impact on the environment and upgrading appliances at the same time, the IRA features two rebate programs that will be available starting 2024 depending on the state in which you reside.
The first is the High-Efficiency Home Rebate or HEEHRA. Through this program, those households with less than 150% of area median1 income can receive rebates covering up to 50-100% of the costs of certain appliances for a potential maximum rebate of up to $840 or a total maximum rebate of $14,000 per household. This potential game-changing rebate can take a lot of stress off your home upgrades or new appliance purchase. To find out if you qualify, click here .
The HOMES Rebate Program is the second rebate program available to single and multi-family homes who retrofit their homes with an energy upgrade and achieve at least 15% of full home energy savings . Those earning less than 80% of the area median income may be able to save up to 80%-100% of their total project costs. Many states may focus on homes with less than 80% of area median income. It’s important to note that, according to HOMES guidelines, a “home assessment” is required for any single-family home and multifamily building receiving the Home Efficiency Rebate. See if you qualify here.
The IRA rebate program
in action
To give you a better understanding of how IRA could work for you, let’s take a look at a few hypothetical examples of households that may be able to take advantage of IRA rebates, assessing their incomes, area median income and resulting rebate opportunities:
EXAMPLE SCENARIO 1:
Stephen works as a restaurant assistant manager and his wife Deborah is a bank teller. Together, they make around $40,000 a year and just purchased their first home. They were interested in installing energy efficient appliances, but couldn’t afford to do so before the IRA. Because their combined income is less than 80% of their area median income, they’re eligible for rebates that cover up to 100% of the project costs. Their state offers rebates of $840 for electric cooking products.2 Only ENERGY STAR certified induction ranges, induction cooktops and heat pump dryer products qualify for HEEHRA rebates so they purchased this Samsung induction range and received a HEEHRA rebate that covered $840 of the purchase price on a $1500 product 3. In addition to saving money through the IRA, Stephen and Deborah were able to monitor and manage the energy usage of their new SmartThings-enabled4 range, helping to reduce their monthly energy bill.
EXAMPLE SCENARIO 2:
Virginia and Harrold live in the suburbs with their four kids. She is a board-certified dentist and Harrold works for the city government. Together, their annual income is $150,000k, or around 125% of area median income. Because their income is 80-150% of area median income, they are eligible for up to 50% of the project cost. Their state offers up to $840 in rebates for heat pump dryers. After their dryer stopped working, they replaced it with a Samsung ENERGY STAR certified heat pump dryer and thanks to the IRA they learned they can receive a rebate covering $500 of their purchase on a $999 product,5 which covers 50% of the product cost.
EXAMPLE SCENARIO 3:
Gretchen is a single mother raising her two kids in the suburbs. As a Nurse Practitioner, she makes around $100k a year, or between 80% and 150% AMI. She’s making a concerted effort to teach her kids how to live more sustainably, and has purchased an ENERGY STAR certified heat pump dryer. She also appreciated its built-in AI savings mode (which you can activate within your SmartThings app) switches to Energy Saving mode to help conserve energy if she exceeds her estimated monthly electricity bill, helping to save money over the lifecycle of the appliance.6 After reading more about the IRA, Gretchen discovered she can receive a rebate of $500, as she is eligible for 50% of the $999 project cost.
- * NE8611 model compared to Samsung premium slide-in non-induction models (NX60t8711SS/AA, NE63T8711SSAA) boiling 1Q water (80-190F)
- ** Compared to Samsung non-induction models
Impact the environment while saving money
Samsung is committed to a more sustainable future, and always looking for ways to help customers lower their impact on the environment. With Samsung’s ENERGY STAR certified heat pump dryers, induction cooktops and induction range appliances7 and the IRA rebates, it will become possible to help lower energy usage in your home.
Samsung has a selection of induction ranges, induction cooktops and heat pump dryers that may qualify for the IRA rebates. Besides cost and energy savings,
induction ranges have a bevy of features and benefits that you may not be familiar with. Whoever said “a watched pot never boils” didn’t have an induction range. They heat water faster and are more responsive, so you can dial in the perfect temperature.
Typically reserved for industrial and commercial sectors, consumer-issued government rebates for energy-efficient upgrades are practically unheard of. As they roll out their historic and truly ground-breaking IRA home rebates, now is the perfect time to look into upgrading to new energy-efficient appliances. You won’t just be doing your part as an environmentally-responsible customer you’ll be working to help save energy costs, too through SmartThings Energy and AI Energy Savings Mode. For more information, you can learn more about Samsung’s own sustainability goals here, and how you can make the most of the IRA here.
Check out these
useful resources
- 1Department of Energy Guidance states that: “Values calculated by household size of the median income of the area in which the individual or family resides, as reported by the Department of Housing and Urban Development.” HUD publishes income limit information annually at https://www.huduser.gov/portal/datasets/il.html#2023_faq.
- 2Only ENERGY STAR electric cooking products will receive rebates. ENERGY STAR’s Electric Cooking Products Specification was finalized on 9/25/2023 so certified products are yet to be determined.”
- 3Under IRA Section 50122, equipment and appliances must be ENERGY STAR® certified, where applicable, to be eligible for a rebate. The ENERGY STAR® program plans to make efficient residential electric cooking appliances, including induction products, eligible for the ENERGY STAR® label and expects qualifying products to begin earning the label later in the year 2023. See Energystar.gov for details.
- 4Available on Android & iOS devices. A Wi-Fi connection and a Samsung account are required.
- 5Price as of 9/16/23; prices can fluctuate based on various factors.
- 6Energy Saving mode impacts the performance of the product.
- 7ENERGY STAR certified products can save you about $450 on your annual energy bill while avoiding more than 4,100 pounds of greenhouse gas emissions.* _*Source: U.S. EPA 2022