Save When You Switch to an Electric Stove

The new Inflation Reduction Act includes major savings when you switch from gas to an electric stove. Find out why electric is better and how the program works.

In the past, electric stoves had a reputation for being worse than gas stoves. They weren’t the most ideal appliance for frying, sauteing, and everything else you can do on a stovetop. 

But electric stove technology has improved significantly, and there are several reasons to switch to an electric stove – including the fact that you could save hundreds of dollars. 

Just how do you get those savings, and why would you want to switch to an electric stove? Take a look at what we’ve found out.

How the Savings Works

The new savings program is for families who buy an electric wall oven, cooktop, or range. This program is part of the Inflation Reduction Act. 

Savings will vary from state to state, so make sure to check how the rebate program works in your state. But in general, here’s what you can expect when you buy an electric stove and where the savings are coming from.

The Inflation Reduction Act

The Inflation Reduction Act was signed into law on August 16th, 2022. The package includes legislation and funding targeted to help solve climate, social, tax, and healthcare issues. 

The bill offers families a rebate for the purchase of an electric stove as part of the initiative to address climate change and energy usage. Consumer Reports state that “one lesser-known provision allocates funding for states to provide rebates for the purchase of new electric appliances, including cooktops, ranges (aka stoves), and wall ovens.”

Essentially, the bill is allocating federal dollars to states so they can give rebates to families who buy electric stoves because of the negative impact gas-burning stoves have on the environment.

Gas Stoves and the Climate

Image of globe on a gas burner

Many people have gas-burning stoves in their homes. Simply put, the stoves that are in kitchens burn natural gas, and natural gas emissions are harmful to the environment. 

Consumer Reports analyzed information from the National Resources Defense Council and found that “the emissions [gas-burning appliances] produce annually in the United States are roughly equal to the climate impact of tailpipe emissions of 500,000 cars.”

That’s pretty shocking when you consider it: gas-burning stoves have almost the same negative effect on the environment as half a million cars. This substantial impact is why the Inflation Reduction Act is providing a monetary incentive to switch from gas to electric. 

How Much Can You Save?

Exactly how much you can save on a new electric stove will vary. The law includes $4.5 billion in funding for states to provide rebates for the purchase of new electric appliances. That equals $90 million per state in rebates. 

Those rebates are specifically for electric wall ovens, cooktops, and ranges. In all likelihood, if you purchase an electric cooking appliance, then you could get a rebate of around $800 for the appliance itself.

You could also qualify for a further rebate to help convert your kitchen set-up from gas to electric. Lastly, if you need to upgrade your electrical panel in order to switch to electric, you may get a tax credit of up to $4,000 as well.

How Do You Qualify?

Black stamp with word qualified embossed and red qualified stamp on white paper

To qualify for this rebate, your household income needs to be up to 80% of the median household income in your area. The median household income in the country is approximately $67,000 (but remember – it may be higher or lower in your area).

If you make up to 80% of the median household income, then you will qualify for either up to 100% of the cost of the new electric appliance or up to $840, whichever is the less of the two. Research what the median household income is in your county before you purchase a new electric stove!

If you make less than 150% of the median household income in your area, you can get a rebate for 50% of the cost of the electric appliance. Families making more than 150% of the median household income in the area will not qualify for the rebate.

Upgrading an Old Electric Stove

If you want to upgrade an old electric stove and receive the rebate, you will need to look closely at your state’s rules for the program. These rules may not have been released yet, so be patient and set a reminder to check the details of your state’s program.

Your state may offer less of a rebate if you are upgrading an old electric stove rather than replacing a gas stove. Make sure to check your state’s program rules before you purchase a new appliance.

Read More: Save Money Long-Term with These 10 Efficient Products

Which Electric Appliances Are the Best?

Red brick building with General Electric sign

If you’re interested in the program, now is the time to do your research and find out which specific electric range, cooktop, or oven will be the best option for your family. Remember, you may be able to qualify for either half the cost or up to $840 on an electric stove. Because of the rebate, you’ll likely be able to afford a more high-end stove than you would without it.

Don’t invest close to $1,000 (which would only be around $200 with the rebate) without looking at the stove in person. Nothing beats seeing it yourself. Head to your preferred store (make sure it’s one that’s participating in the rebate program), whether that’s Lowes, Best Buy, Home Depot, or another retailer, and check out your options. 

If the thought of going to the store without a starting point gives you anxiety, focus on a high-quality brand like GE.  According to Tom’s Guide, the GE Profile PB935YPFS is the best electric range overall, with five burners, an air fry function, and a great cooking performance. Tom’s Guide states that “Although there are bigger ovens on the market, this 5.3-cubic-foot cavity will easily handle a large bird.” So you can still host Thanksgiving with this electric stove!

In addition to GE, make sure you check out the electric options from Samsung, LG, Bosch, and Thermador. And remember, while you’ll want your stove to coordinate with your other appliances, you should be focused on choosing an option that qualifies under the rebate.  

Gas Stoves, Electric Stoves, and Your Health

In addition to saving money on a new stove when you switch to electric, you’ll also be making a choice that’s good for your health. Time and time again, it’s been proven that gas-burning stoves have serious negative health effects. Take a look at what we’ve found out.

Carbon Monoxide and Formaldehyde

Carbon monoxide alarm and smoke

Picture this: You decide to fry up some bacon on your gas stove. You breathe in the smell of the delicious sizzling bacon – but you’re also breathing in pollutants that you can’t smell. 

According to the California Air Resources Board, “Natural gas and propane stoves can release carbon monoxide, formaldehyde and other harmful pollutants into the air, which can be toxic to people and pets.”

Carbon monoxide and formaldehyde are two serious pollutants, and they’re not the only ones created by gas stoves. Nitrogen dioxide, a toxic gas, can also be emitted by gas-burning stoves. According to NPR, “Advocates now are mostly focused on NO2, which the Environmental Protection Agency says is a toxic gas that even in low concentrations can trigger breathing problems for people with asthma or chronic obstructive pulmonary disease.”

These pollutants pose serious health problems – and you can avoid them if you cook with electricity instead.

Does Your Gas Stove Have a Hood Fan?

If your gas stove doesn’t have a hood fan, then you could be breathing in pollutants whenever you use it. Proper ventilation is extremely important. 

Even if your gas stove does have a hood, you need to have a technician check it every year to make sure that there are no gas leaks.

Anyone who has a gas stove without a hood should use an exhaust fan to ventilate the air to the outside and should open windows (and doors, if possible) so that the air escapes while you’re cooking 

The Health Problems Caused by Gas Stoves

Child sitting on couch breathing through asthma inhaler

Gas stoves release pollutants into the air outside your home when they are vented and inside your home as well. 

These pollutants can have a serious impact on both pets and humans, and they’re especially harmful to children. One study from 1992 found that children who live in a home with a gas stove have a 20% higher chance of developing respiratory illnesses than those who live in a home with an electric stove.

Children are vulnerable already, and gas stoves can create health problems and worsen existing ones. Adults are also affected by the pollutants that gas stoves emit. Headaches, fatigue, nausea, and nose and throat irritation are all health issues that gas stoves can cause, specifically self-cleaning ovens.

What You Can Do

The evidence is clear that gas-burning stoves aren’t only bad for the environment – they’re also bad for your health. If you have a gas-burning stove, make sure that you ventilate the area well, preferably with a powerful range hood, any time you use it.

Make a plan now for replacing your gas stove with an electric stove once the rebate program becomes available in your state. Check out stoves the next time you head to your favorite home improvement store and get a good idea of which one you would want to buy.

If you’re interested in other savings programs for making your home more energy efficient, check out the Database of State Incentives for Renewables & Efficiency. Put your wallet and your health first!

Read More: Take Advantage of These Overlooked Tax Credits

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