US President Joe Biden signed the big climate bill – the Inflation Reduction Act (IRA) – in August. It includes a wealth of rebates and tax credits to help Americans transition to electrification with the purchase of everything from electric vehicles to high-efficiency electrical appliances to heat pumps. If you’re ready to electrify but you’re not sure where to start, then check out this easy-to-understand IRA Savings calculator from Rewiring America.
Rewiring America is an electrification nonprofit whose “purpose is to make electrification simple, measurable, and inevitable.” I’m going through the electrification process now, so the Inflation Reduction Act calculator is my go-to. (We’re in the process of buying a US-made Volkswagen ID.4, and Rewiring America has been invaluable for finding the information I need to ensure I qualify for a tax credit.)
I’m finding in my electrification journey that I am responsible for advocating for myself, as electricians, heat pump installers, and even car dealerships aren’t quite sure yet about how tax credits and rebates work.
But I have found that they want to know, and they want to help me in turn, as everyone I’m working with wants to fight the climate crisis, so they’re grateful when I share the information I find with them.
IRA Savings Calculator – the “Smith family”
The IRA is still pretty new, so Rewiring America rightly disclaims:
We do not yet know how or when upfront discounts will be implemented in each state, so we cannot guarantee final amounts or timeline.
Here’s how the IRA Savings Calculator works: Type in your zip code, homeowner status (renters qualify too), your household income, tax filing status, and household size into the IRA Savings Calculator, and click “Calculate!” It then displays your personalized incentives and splits out tax credits from upfront discounts (i.e., rebates).
I created the “Smith family” as a case study: a hypothetical family of four, homeowner, household income $100,000, joint tax filing, zip code 05001 (that’s Vermont). The Smiths qualify for $14,000 in upfront discounts and $7,550 in available tax credits.
As upfront discounts (rebates) are based on a percentage of area median income, the Smith’s area median income is $90,100, as they live in the 05001 zip code area. Area median income can be found using this Area Median Income Lookup Tool from Fannie Mae.
Upfront discount on a new electric stove
The High-Efficiency Electric Home Rebate Act (HEEHRA) provides point-of-sale consumer rebates to enable low- and moderate-income US households to electrify their homes.
So if the Smith family wanted to replace their gas stove with a new electric stove, for example, then they would qualify for 50% of electric/induction stove costs up to $840, upfront, as their income ($100,000) is over 100% of area median income ($90,100) in their 05001 zip code:
For low-income households (under 80% of Area Median Income), HEEHRA covers 100% of your electric/induction stove costs up to $840. For moderate-income households (between 80% and 150% of Area Median Income), HEEHRA covers 50% of your electric/induction stove costs up to $840.
Total HEEHRA discounts across all qualified electrification projects are capped at $14,000.
Rewiring America also provides an easy-to-understand online guide to the IRA called “Go electric! (now).” You can access that here.
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National Grid Renewables has broken ground on its 100 MW Apple River Solar Project in Polk County, Wisconsin.
The Wisconsin solar farm, which will use US-made First Solar Series 6 Plus bifacial modules, will be constructed by The Boldt Company, creating 150 construction and service jobs. Apple River Solar will generate over $36 million in direct economic benefits over its first 20 years.
Once it comes online in late 2025, Apple River Solar will supply clean energy to Xcel Energy, which serves customers throughout the Upper Midwest. According to National Grid Renewables, the solar farm will generate enough energy to power around 26,000 homes annually. It will also offset about 129,900 metric tons of carbon dioxide emissions each year – equivalent to taking 30,900 cars off the road.
“We are excited to see this project begin as it underscores our dedication to delivering clean, reliable and affordable energy to our customers,” said Karl Hoesly, President, Xcel Energy-Wisconsin and Michigan. “This project is an important step in those goals while bringing significant economic benefits to Polk County and the local townships.”
Electrekreported in February that Xcel Energy, Minnesota’s largest utility, expects to cut more than 80% – and possibly up to 88% – of its emissions by 2030, putting it on track to hit Minnesota’s goal of net zero by 2040. It also says it’s on track to achieve its clean energy goals for all the Upper Midwest states it serves – Minnesota, Wisconsin, North Dakota, South Dakota, and Michigan.
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Tesla has announced that it will finally deliver 500 kW charging as it is about to install its long-awaited V4 Supercharger cabinets.
The rollout of Supercharger V4 has been a strange one, to say the least.
Tesla has been deploying the new charging stations for two years and calling them “Supercharger V4”, but it has only been deploying the charging stalls.
Supercharger stations are made of two main parts: the stalls, which are where the charging cable is located, and the cabinets, which are generally located further back and include all the power electronics.
For all these new “Supercharger V4”, Tesla was actually using Supercharger V3 cabinets. This has been limiting the power output of the charging stations to 250 kW – although
Today, Tesla officially announced its “V4 Cabinet”, which the automaker claims will enable of “delivering up to 500kW for cars and 1.2MW for Semi.”
Here are the main features of the V4 Cabinet as per Tesla:
Faster charging: Supports 400V-1000V vehicle architectures, including 30% faster charging for Cybertruck. S3XY vehicles enjoy 250kW charge rates they already experience on V3 Cabinet — charging up to 200 miles in 15 minutes.
Faster deployments: V4 Cabinet powers 8 posts, 2X the stalls per cabinet. Lower footprint and complexity = more sites coming online faster.
Next-generation hardware: Cutting-edge power electronics designed to be the most reliable on the planet, with 3X power density enabling higher throughput with lower costs.
Tesla reports that its first sites with the new V4 Cabinets are going into permitting now. The company expects its first sites to open next year.
We recently reported about Tesla’s new Oasis Supercharger project, which includes larger solar arrays and battery packs to operate the charging station mostly off-grid.
Early in the deployment of the Supercharger network, Tesla promised to add solar arrays and batteries to all Supercharger stations, and Musk even said that most stations would be able to operate off-grid.
While Tesla did add solar and batteries to a few stations, the vast majority of them don’t have their own power system or have only minimal solar canopies.
Back in 2016, I asked Musk about this, and he said that it would now happen as Tesla had the “pieces now in place” with Supercharger V3, Powerpack V2, and SolarCity:
It took about 8 years, but it sounds like the pieces are now getting actually in place with Supercharger V4, Megapacks, and this new Oasis project.
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Hyundai has a new secret weapon it’s about ready to unleash. To revamp the brand in China and counter BYD’s surge, Hyundai is launching a new AI-powered EV next year. The new model will be Hyundai’s first dedicated electric car for the world’s largest EV market.
With the help of Haomo, a Chinese autonomous startup, Hyundai will launch its first EV equipped with generative AI. It will also be its first model designed specifically for China.
A Hyundai Motor official said (via The Korea Herald) the company is “working to load the software” onto the new EV model, “which will be released in the Chinese market next year.” The spokesperson added, “The level of autonomous driving is somewhere between 2 and 2.5.”
In comparison, Tesla’s Autopilot is considered a level 2 advanced driver assistance system (ADAS) on the SAE scale (0 to 5), meaning it offers limited hands-free features.
With Autopilot, you still have to keep your eyes on the road and hands on the steering wheel, or the system will notify you and eventually disengage.
Haomo’s system, DriveGPT, unveiled last spring, takes inspiration from the OpenAI’s popular ChatGPT.
The system can continuously update in real-time to optimize decision-making by absorbing traffic data patterns. According to Haomo, DriveGPT is used in around 20 models as it looks to play a bigger role in China.
Hyundai hopes new AI-powered EV boosts sales in China
Electric vehicle sales continue surging in China. According to Rho Motion, China set another EV sales record last month with 1.2 million units sold, up 50% from October 2023.
Over 8.4 million EVs were sold in China in the first ten months of 2024, a notable 38% increase from last year.
BYD continues to dominate its home market. According to Autovista24, BYD accounted for 32.9% of all PHEV and EV (NEV) sales in China through September, with over half of the top 20 best-selling EV models.
Tesla was second with a 6.5% share of the market, but keep in mind these numbers only include plug-in models (PHEV).
Like most foreign automakers, Hyundai is struggling to keep up with the influx of low-cost electric models in China. Beijing Hyundai’s sales have been slipping since 2017. Through September, Korean automaker’s share of the Chinese market fell to just 1.2%.
According to local reports, Hyundai is partnering with other local tech companies like Thundersoft, a smart cockpit provider, and others in China to power up its next-gen EVs
With its first AI-powered EV launching next year, Hyundai hopes to turn things around in the region quickly. The new model will be one of five to launch in China through 2026.
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