How you can take advantage of tax breaks in the Inflation Reduction Act

On January 1, Americans became eligible to save thousands of dollars when they buy electric cars, induction stoves, and modern appliances under the Inflation Reduction Act that Democrats passed last fall.

Most American homes still use fossil fuels, specifically natural gas, for heating, cooking, and hot water. To reach the Biden administration’s goal of slashing buildings’ climate footprint in half by 2032, many of those homes will need to be electrified. Swapping out the gas stove for induction and a natural gas furnace for an electric heat pump plugs the building more...