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WASHINGTON, DC — As part of President Biden’s Investing in America agenda, the U.S. Department of Energy (DOE) announced today that Colorado is launching its first phase of the federal Home Energy Rebate programs, supported by the Inflation Reduction Act. Colorado is launching the Home Electrification and Appliance Rebates (HEAR) portion of the rebate program to lower energy bills by lowering costs for energy efficiency improvements.
Colorado’s launch is part of the Biden-Harris Administration’s nationwide initiative to provide $8.8 billion in Federal funding for states, territories, and Tribes to lower energy costs and increase efficiency in American homes by making it more affordable to install cost-saving measures such as heat pumps, electrical panels, and insulation, which helps save money on housing costs. These energy-saving measures will save American households up to $1 billion annually in energy costs and support an estimated 50,000 U.S. jobs in residential construction, manufacturing, and other sectors. These investments also advance the President’s Justice40 Initiative, which sets a goal that 40% of the overall benefits of certain federal climate, clean energy, affordable and sustainable housing, and other investments flow to disadvantaged communities that are marginalized by underinvestment and overburdened by pollution.
“From folks living in the Plains to those in the Rockies, big cost savings are coming for Coloradans looking to adapt their home’s energy needs to face the new challenges posed by climate change," said U.S. Secretary of Energy Jennifer M. Granholm. “Colorado’s HEAR program presents a historic opportunity for residents in the state to save hundreds to thousands of dollars on energy-efficient upgrades and reduce energy bills for seasons to come.”
“Home energy rebates for clean and energy-efficient appliances and upgrades are good for the planet because they help cut pollution, but more importantly, they are good for Coloradoan families because they will save money by lowering energy bills,” said John Podesta, Senior Advisor to the President for International Climate Policy. “Congratulations to Colorado for making these game-changing Inflation Reduction Act incentives available to their residents.”
"We are focused on saving Coloradans money on energy bills by increasing access to high-efficiency heat pumps and better insulation for homes,” said Colorado Governor Jared Polis. “Upgrades like these save Coloradans money on utilities, make homes more comfortable year-round, and protect our clean air.”
“Here in Colorado, improving energy efficiency in our homes is essential to achieving our ambitious climate goals and saving families money,” said Colorado Energy Office (CEO) Executive Director Will Toor. “We’re excited to roll out this key funding from the landmark Inflation Reduction Act, which will improve access to home energy upgrades that reduce emissions, lower energy costs, and improve comfort and safety for Coloradans across the state.”
Many Americans spend a large portion of their monthly income to heat, cool and power their homes. To advance the objectives of the rebate programs, DOE is requiring states and territories to allocate at least half of the rebates to low-income households, defined as those earning 80% or less of their area median income, which is expected to benefit many households in disadvantaged communities. States and territories must also submit Community Benefits Plans to ensure good jobs and other economic opportunities are available. To help keep consumers informed and equipped with resources, DOE recently released a Consumer Bill of Rights framework and is encouraging state, territorial and Tribal rebates programs to adopt it.
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