Crbnly Clip: Saving $ and being Sustainable

Revisiting our 2023 gem, this #Throwback episode of #CrbnlyConversation focuses on the Inflation Reduction Act and its boon for homeowners and consumers embracing #SustainableLiving. Discover how you can benefit from #TaxRebates on #HomeEnergyAudits, #SolarPanels, #HeatPumps, and #EnergyEfficientAppliances. Perfect for Boomers looking to save money and the planet! #EcoFriendlyHome #BoomerBudgeting #GreenLiving2024

Useful Resources
This Guide Can Help You Save Money and Fight Climate Change
H.R.5376 - Inflation Reduction Act of 2022
Elena Shao
Nadja Popovich
Charts: Americans bought more Heat Pumps in 2022
Americans bought more heat pumps than gas furnaces in 2022
How Heat Pumps Work

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Transcript

shane (00:03.541)
there's this there's this have you heard of riven those trucks are nice

chadwick (00:07.8)
hm

super expensive

shane (00:15.521)
hold on your throat you're frozen

chadwick (00:15.68)
did you free chain

chadwick (00:19.7)
did i freeze

shane (00:20.501)
all right now i can hear you yeah you you froze up on my side okay let's do it let me pull it back up

chadwick (00:22.82)
it was me

shane (00:38.521)
all right welcome back everyone to carbon le conversations got your friends shan and chat here for today's episode how's it going chad

chadwick (00:49.16)
um i'm well we certainly are here i'm excited to do another clip with you shane

shane (00:54.681)
no complaints on my side but as always we appreciate the the support from all of you wonderful listeners out there you know we're just friends that have these conversations in order to examine the intersection of community life styles in consumption in our lives and our goal is to our goal with this podcast is to create a platform for us to share our stories in order to motivate actions lessen our carbon footprint and create a space

or everyone out there to share their carbon journeys as well and once again let's let's remind everyone that you know we've made it easy for you to listen to us on your favorite podcastap literally all you need to do is scroll down click on show notes and you'll see find and join the conversation and that will give you free access to all of our previous conversations so that if you can

catch up or if you're a number one fan and you listen to us all to them all we we try to drop every wednesday so every wednesday morning hopefully when you wake up out of bed there's a there's a new episode waiting for you and also make sure to follow us on instagram and youtube as well which those are currently under construction we're trying to up the game a little bit but be patient with us we appreciate we appreciate the patients and you know

chadwick (02:23.64)
we do do

shane (02:24.941)
yeah but we're going to make it bigger and better and you know we're excited but yeah like chat said we have another one of our carbonlyclips for you and you want to go ahead and explain what this clip will entail chad

chadwick (02:41.84)
yeah yeah she thanks for the great introduction for our episodes and what we're doing here on today's clip so in the last month we've spent many conversations talking about our own journeys to sustain ability and our own relationships to that and of course while we're doing that i keep reading and in the new york times has published an article called this guide can help you save money and fight climate change in

for those that sometimes regularly all the time read the new york times you notice that they do a pretty good job reporting on options of sustainability investment of sustainability why it's important to be sustainable and i found this article really curious but also relevant because we are in the age of government subsidies or to put another way the passing of the inflation reduction act

which is major legislation that is aiming to cut planet warming greenhouse gas admissions but in that and buried in that not just for like producers of carbon and companies there's also things that home owners and individuals and consumers can do to get rebates find ways to save money if they're investing that and i thought it would be great in this clip to go through the advice the new york times lay out in this article by

gapopovitch lena show i'll link in the show notes of course but it was published here in february first and spend some time talking through that you know our relationship to those options and maybe our relationship our readers have to those options and compare that to what we've been talking about our own journeys so that's the goal in this clip is to get a little tactical but also you know make it real so

shane (04:23.321)
yeah

shane (04:27.881)
hm

shane (04:34.721)
yep

chadwick (04:39.8)
anything that you have like feet back of that or makes you start thinking right away because i know sharing your kind of a newer home owner and this guide is geared towards primarily home owners or people that own homes drive cars

shane (04:47.681)
yep

shane (04:54.941)
yeah definitely what what pops were pomps in my head first is um you know since the beginning one of the kind of the lines that i've used is like with just being carbon is like not everyone can afford um solar panels and electric vehicles and things like that so it is even though it's still something that i think of it is nice to see some of these laws

chadwick (05:15.54)
hm

shane (05:24.821)
into place to where it could help kind of um introduce these things to to people that you know typically wouldn't invest in a solar pan r electric vehicle um there's still some limitations you know on it but we'll go we'll kind of go through it a little bit and and and see but yeah that's definitely the first thing that comes to mind

chadwick (05:36.98)
sure

chadwick (05:50.52)
well i think you make i don't think you you bring up a really good point because part of the goals of subsidies like this or government program is to build awareness generate you know i guess in the irony of it all is generate more consumption for the things that will help us be more sustainable in our consumption right like it's kind of a conundrum when i think about it and say that out loud

shane (06:05.221)
hm

shane (06:14.721)
yeah yeah

chadwick (06:20.38)
um but i think over all like that's how changes happened like we don't move from the horses and buggies to the automobile or the automobile to you know what not without ou know government subsidies or government kind of giving us a push like i mean lots of lots of changes across the world but primarily united states has been done that way um in i want to make sure i get it right the inflation reduction act the i r a

shane (06:36.161)
hm

shane (06:43.841)
yeah

chadwick (06:50.52)
i think is what they call it which has so many commentations but historical ones i'll just leave there um really lays out from a home owners guide or maybe a renters guide than you can convince your landlord to do some of these things to electric vehicle guide and again option one is get a home energy on it like spend the money get the rebates to find out like what is your home doing right in this

shane (06:53.781)
oh

it

shane (07:14.641)
hm

chadwick (07:20.36)
looks like you can get a tax credit that covers thirty percent the cost of an audit and then i mean i'm kind of exasperated with the statement clearly i can't get out here by like i don't know what percent of the reason that we do this this the carbon conversations for but it's a big one like the more you know that's what we're trying to do is drive aware and you know get people to connect to this stuff so doing a home energy out it is a big deal like you can't really know where you go or what

shane (07:45.321)
yeah

chadwick (07:50.4)
you should do or why you should do it unless you actually know how much energy are you consuming where you wasting it like what appliances and devices are leaking or just really bad um and it looks like you can get one of these going through the end of twenty thirty two so for those of you that aren't home owners you know but might be in the next eight years nine to eight to nine years you got time but again like you could probably get your landlord may be to sign

shane (07:52.901)
yep

shane (08:02.061)
hm

shane (08:06.761)
right i just saw that i just saw that you've got plenty of time

chadwick (08:20.38)
for one of those depend on your relationship with them and then that way i mean in the end like if you upgrade everything you're all doing better um saving money being more effective and efficient so the others as install solar panels other renewable energy options like this has been an ongoing thing for a long time like we've talked a little bit about solar panels production in the past we could talk a whole lot more on where they're being produced and how they're being produced umwat

shane (08:22.581)
m hm

shane (08:30.041)
yeah

shane (08:34.161)
yep

chadwick (08:50.84)
again you don't really need or can use solar panels i mean in rare cases unless you have a home or a place or position to do that but it looks like you can get up to thirty percent of qualifying purchases with no cap on total purchase price um so this is a big deal you know that might actually make it from maybe it's not feasible to do to make it feasible of a project for any home owners so good thing there again you got two twenty the

forward to get this done um this one i like because a lot of us set

shane (09:26.541)
same

chadwick (09:28.34)
own homes or maybe rent a home or live with our family members like we all pay bills right so if we're paying bills to heat cool manage power or our home making those energy saving renovations and buying efficient appliances go a long way it does create a demand for newer things more resources being used but that's also a good thing for all those people work in those jobs and especially if you're buyin

shane (09:36.421)
yep

shane (09:48.421)
definitely

chadwick (09:58.08)
an american like these are things that are you know built here in house or in country um again i think thirty percent seems to be the going right for the government here you can cover up to thirty per cent of your costs and certain appliances that meet the requirements and

shane (10:01.041)
hm

yep

shane (10:15.741)
but no i like i like this one though because it says there's no cap on the total purchase price which is which is pretty good you know because you know sometimes places or even the government will we'll give you twenty five per cent rebate but then the rebates only on like up to ten thousand dollars or whatever like this is this is a true

chadwick (10:33.8)
yeah yeah yeah yeah

chadwick (10:39.56)
and it looks like it even applies like windows and doors skylights insulation so like all these things that we can do like i'm not going to come through the research now and maybe not even in the future but my guest is there is a lot of wasted energy that we could capture ere not need if all of our homes were insulated properly to the code that makes him more sustainable like like that's a big shift i'm sure there's i'm sure there are students

shane (10:49.461)
yeah

shane (11:03.441)
hm

chadwick (11:09.7)
argued for ph d doing research around that um the big act is how do you actually get people to make that change right and i would argue the ira here that this that this is part of that movement um i like this one i don't know how many of you understand or know what a heat pump is but i'm a big fan of them um didn't really believe in them and understand the science of it until i was in my late twenties but now that i do and i'm like oh these things make a lot of sense do thermal heat pumps like

shane (11:14.221)
hm

shane (11:31.681)
m hm

chadwick (11:39.84)
not got to get the science of this but um there they're currently this has been like a big hot topic here in the winter and especially up in like the new england states um heat pumps have been out selling traditional natural gas furnaces so people are choosing to use a heat pump because it saves them a whole bunch of energy and it's easy to install compared to a furnace and it might even be a little bit safer don't quote me on that

but again you can get a thirty per cent text credit and i bet a bunch americans are doing that um and upgrade in the way that they heat their home um but heat pumps work also to help regulate the temperature warm or cold up to a certain range of temperature is a good way to put it so if you're in the tone

shane (12:12.681)
yep

shane (12:27.181)
so it's not it's not like a it's not going to cool your house like i don't know much about the heat pumps it's not going to cool your house like an air condition or anything right it's just

chadwick (12:38.26)
not but it will keep it mildly mildly oh my god i can't say mildly comfortable so in a sense again too much of the science a heat pump works on an air exchange a temperate temperature exchanger that based after the difference of the indoor and the outdoor temperatures it generates heat or cools and moderates the climate inside of your house in

shane (12:45.381)
okay

shane (13:07.761)
okay

chadwick (13:08.42)
works really well on a range of temperatures but when you get into the really hot days or the really really cold days it's not your best outlet um but i think for someone like you live in columbus ohio it's probably a good solution for eighty five per cent of the year for you so definitely do your research dig into it we should get a plumber on here to talk about heat heat pumps and heat exchange they're a good deal

shane (13:24.901)
yeah yeah yeah i'll have to look into that

shane (13:33.601)
pan

chadwick (13:37.84)
um the next two is like this is where i think it gets really interesting because there get rebates and renovations that reduce energy use get discounts for energy efficient upgrade for lower income households both but both of them aren't available yet which out of all the things we just talked about like you probably are a home owner or multiple home owner or think about being a home owner for any of these to take be of interest or be in your wheelhouse these other ones aren't right you could actually do

shane (14:05.181)
hm

chadwick (14:07.72)
things get some tax rebates so i think a lot about the conversations we had and like i love this article i love what we're trying to do because it's like big changes like this really move the needle for all of us and i mean we could all recycle but if we did these things in addition or mainly these things i'd be a big impact right but everyone can do that now hence we have these carbonate conversations because thriftings like something i can do reciting something i do

shane (14:29.281)
yeah

shane (14:36.181)
yep

chadwick (14:37.72)
seeing my food waste is a really easy thing to do to have a big impact right um this maybe maybe

chadwick (14:51.6)
later okay so it's more of a timing thing but they do have funding the funding will run out so

shane (14:59.301)
okay i see that

chadwick (14:59.92)
so yeah low income housings like if you qualify get get in line because my guest he is a lot of people going to try to use this up

yeah

shane (15:15.921)
yeah that's it's interesting to that that's that's interesting that that's the ones that are geared

chadwick (15:16.32)
well

shane (15:28.701)
let's see so only yeah i mean out of all of those that you just listed i feel like that's the only one that says like until funding runs out

chadwick (15:38.5)
m hm

shane (15:39.721)
you know what i mean like um

chadwick (15:42.38)
yeah

shane (15:44.561)
so that's just kind of interesting to me

chadwick (15:58.66)
i'm not a policy lank when i think about this just at a high level like the ones that are out there that aren't in that it's capped it has a limited amount of resources that will generate industry that like two thirds of americans that need to furnusanaircon missioner change over or add a heat pump that drives an industry drives a lot of job there's a lot of plumbers have got to install these there's a lot of sales associates that need to sell these

shane (16:02.441)
m

shane (16:09.381)
m hm

chadwick (16:28.8)
there's a lot of insurance adjusters have to go apply these changes to policies right those are a big deal that generates income adds value to the economy um to what degree in what level like having all those chain up dates and upgrades to low income houses that will reduce energy use give them higher efficiency appliances like i'm not here to do the math there but i think

shane (16:29.781)
m hm

chadwick (16:58.58)
they're good so i can see the cap i can see the know the unlimited growth but

shane (17:01.541)
m

chadwick (17:05.42)
i don't know like there's an investment missing and again like if you do own a home and you're low income like this is for you go get it right but do i mean we've talked a lot about this and our conversations like i mean it all started like you guys had no clue what all words were an i'm like oh my god they're so cool you guys should know but it was not because they were fashionable only fashionable but like there

shane (17:17.241)
yeah yeah

chadwick (17:35.28)
really easy to understand like how good they are for the environment right the stuff is really good but i don't know i don't want to make any bus assumptions here but i mean as a black man home owner would have this been on your rate already even think about if we were talking about it here

shane (17:38.821)
yeah

shane (17:46.101)
i mean

shane (17:53.281)
no so that was another thing that kind of as we had this conversation that comes to mind is like hey how would i how would i have found out about this like other than you know you sending me this art not not that only only you read new york times it's obviously one of the most popular but how many low income people are reading new york times um and then be so this is my first

i haven't i haven't filed my taxes yet but this is my first year as like a full year home owner filing taxes and i'm not familiar how to even how to even add these type of things into my you know what i mean n to my how do i even applied to this type of things which i think is going to be a barrier for not even just the low income people like for everyone with all of these is like okay

chadwick (18:31.32)
okay

chadwick (18:38.96)
how did you even sure

shane (18:53.241)
i did this how do i apply for it and then oh well what if i lose the the receipt or you know what if i get audited in a couple of years and i can't find the receipt for the heat pump that i bought or you know just things like that it's just kind of added stress you know

chadwick (19:11.44)
yeah

chadwick (19:14.68)
i love i love that thinking because like i mean i've been a multiple home owner and i'm like i have so much privilege and i didn't think about that at all you know like i'm not if i was to do these things i wouldn't even be worried about it and and part of me is like none of them on the list other than maybe solar panels and in our house in texas um like are attractive because we've done some of this work again we have the privilege we had the resources and the means to do this

shane (19:24.621)
yeah

shane (19:43.181)
m hm

chadwick (19:44.56)
so this tax incentives aren't actually incentives for us

shane (19:52.561)
and then it's funny

chadwick (19:52.86)
i mean i've probably said it three times in this call is like why do we do carbon conversations right this is it

shane (20:00.401)
and i mean just before we were recording i was telling you about you know i had some have this tree in my yard that i need to cut down because it just it's not good for my house it's dangerous it's and it's three thousand i mean it's literally three thousand dollars to cut this tree down you know and and it just has me it's going to set me back a little bit because it's like i mean it's a big chunk of money i'm going to do it because you know

chadwick (20:29.18)
hm

shane (20:30.721)
it's better for my safety and just for my my property but you know there's just so many you know pros and cons about being a home owner and i just think about you know some of the people that may want to make these upgrades that are listed in this article but then you have things like that that come about or so it's interesting you know

chadwick (20:55.84)
yeah

shane (21:01.521)
it's a yeah it's a it's an interesting topic

chadwick (21:01.84)
so that that that tree the like totally get it and i understand why it needs to come down but i'm like we don't want to cut down a tree you know like it shades things there's the echo system but not old trees are in the right place for the way we live in our communities and our houses and and you can plant new trees multitudes of them versus having just one big one shading everything up i get it but the

shane (21:15.201)
yeah

yeah

shane (21:23.941)
yep

shane (21:29.361)
yep

chadwick (21:31.68)
then heart tree lover in me is like no but

shane (21:34.681)
yeah but i did i did plant i have last year i planted you know three new trees in my yard before i even decided to chop this one down so even though it'll be many many years before they're as big as this tree is um for all the tree lovers out there i did replace the tree a little bit at least so

chadwick (21:38.08)
yeah

chadwick (21:56.18)
yeah and you'll have more room to do more of that too but no you know back to this article i totally agree like it

shane (21:59.921)
yeah

chadwick (22:05.04)
being a home owner you're faced with a lot of choices if you're even lucky enough to be a home owner right like i just can't like i know i've said it a couple times like go ask your landlord convince them to do these take advantage esetheshow uncomfortable is that like are you going to raise my rent because i have more efficient like appliances like like is the incentive even there to do that like question all of that

shane (22:12.001)
that too eh

shane (22:28.201)
hm

yep

chadwick (22:33.9)
especially across like like a big city like new york like how many frigerators are in apartment buildings right like in new york just in in a hundred or not even a hundred twenty city blocks right and imagine if all of them got swapped out with energy efficient ones and make a big debt right who who's goin to pay for those who owns them if you rent you know like there's just so many questions

shane (22:34.281)
yeah that's a good that's a good point

shane (22:41.841)
hm

shane (22:47.401)
hm

shane (22:51.861)
a lot of money yeah

shane (22:56.901)
yep

shane (23:00.681)
yep it's interesting it definitely i want to do more research on it that's for sure

chadwick (23:01.48)
oh my god well

chadwick (23:08.38)
yeah well i mean usually like we like these clips to be informative get to the point here's what's going to happen let's exploring it this one is more thought provoking because these are good things but they're also not available for everyone

shane (23:19.401)
hm

chadwick (23:26.12)
or if they are do people even know it's available or comfortable enough or have i mean granted you gotta be home owner and you can afford to buy these things to get these rebates

shane (23:37.201)
hm

chadwick (23:41.2)
conundrums carbon like conundrums maybe that's maybe that's what we call this one

shane (23:41.201)
yeah yeah but i'm glad i'm

exactly a perfect perfect title for it but i'm glad you shared this article because like i said i mean maybe in a maybe down the line i would have heard of of this but it's good to know now especially beginning of the year you know i hope to make some upgrades this year on the house so that will actually help me pick and choose what i do you know so yeah hopefully everyone else out there learn

chadwick (24:10.48)
hm

shane (24:17.701)
something from this conversation the same way same way we did and you know any any accountants out there that have any tips on how to apply these rebates you know reach out in the comments

chadwick (24:23.3)
that's the goal in

chadwick (24:35.52)
please like maybe maybe we can become the number one podcast for accountants and plumbers

shane (24:41.581)
yeah we'll add another professional on the list

chadwick (24:46.9)
yeah but but i'm glad we got the plumbers in our camp because heat pumps that's right up a plumber's alley so

shane (24:53.461)
yep that's for sure so

chadwick (24:56.08)
to go get one on and talk about it

well shane i think th yeah no problem i think that that puts this clip to bed we'll share some more in the show show notes um and well bon we'll be back with some more carbon like clip soon

shane (25:00.741)
thanks for sharing this chad

shane (25:06.901)
yep

shane (25:15.861)
see all later