Electrical Panel Upgrades

Recently, President Biden signed the Inflation Reduction Act (IRA). The IRA incentivizes people toward more environmentally safe methods to electrify their homes. Companies like SPAN, a leading smart home electrical panel company, have encouraged this act. 

SPAN electrical panels are innovative “smart” panels that allow you to monitor and manage every circuit in your home with a mobile device. It tells you how your home is sourcing, storing, and using energy. SPAN electrical panels are compatible with the battery storage systems: LG Chem RESU, Tesla Powerwall and Powerwall +, and SolarEdge Energy Bank. And they are compatible with any grid-tied solar inverter. 

SPAN Electrical Panel and EV Charger

What are the Benefits?

Through this act, many Americans receive tax credits and rebates. This encourages people to invest in more energy-efficient equipment such as solar panels, heat pumps for heating and cooling, smart home electrical panels, and more. Likewise, this will help the environment, reduce energy costs, and electrify homes more efficiently. Companies like SPAN will help customers achieve that goal. SPAN founder and CEO Arch Rao mention, 

“as homeowners transition from less efficient fossil fuels appliances to better performing electric versions and more renewable energy, SPAN products are natural complementary additions. The traditional electrical panel creates barriers and severely limits home electrification. SPAN reduces hurdles like electric service upgrades and provides homeowners complete control of their expanding home energy ecosystem.”

Similarly, most homeowners may be eligible for a 30% tax credit on grid-tied home batteries, solar panel systems, and SPAN panels. Homes that install a modern electric heat pump to replace their furnace will save up to an estimated $1,800 yearly on energy bills. Additionally, there may be a reduction in installed SPAN panel costs for SPAN customers.  SPAN also offers Level 2 EV chargers that can qualify for the make-ready program incentives in New York state.

In conclusion, this law helps protect the environment while helping households. Through the IRA, Americans can prioritize clean energy by installing electrical panels. To read more about the IRA, click here

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