City of Newton, MA
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Financial Incentives
| Technology | Mass Save Incentive | State Incentives | Federal Incentives | Financing Options | Operational Savings |
|---|---|---|---|---|---|
| Insulation | Tax credit up to $1,200 | 0% loan through Mass Save | Reduced utility bills | ||
| Heat Pumps | Whole-home and partial-home incentives: up to $15k | Tax credit up to $2,000 | 0% loan through Mass Save | Lower monthly costs than oil, propane, electric resistance heat and window ACs | |
| Electric Vehicles | EV charger installation rebate of $700-$1400 |
Tax credit up to $3,500 | Tax credit up to $7,500 | Lower fueling and maintenance costs than combustion engines | |
| Rooftop Solar |
Tax credit, the lower of 15% of system cost or $1,000 |
Tax credit of 30% system cost | Net metering credits |
The Passage of the Federal Inflation Reduction Act (IRA) in August 2022 authorized the creation of many new incentives for home energy projects, both tax credits and direct incentives. The tax credits went into effect by the start of 2023, as linked in the table above. The framework for the direct incentive programs was established by the IRA, but eligibility and application details for these programs have not be finalized. Learn more from the U.S Department of Energy's Energy Savings Hub and nonprofit Rewiring America's estimated incentive calculator.