In 2023, the Inflation Reduction Act will go into effect. Passed in August, this sweeping legislation package — an expenditure of $739 billion — aims to target healthcare costs, ask “the largest corporations to pay their fair share” of taxes and promote clean energy initiatives, according to a statement issued by the White House.
The latter component will provide direct rebates and tax credits for homeowners (and renters) who upgrade to more energy efficient appliances, as well as home heating and cooling systems. The credits can be significant for comprehensive upgrades, but your savings can be even greater if you know when to buy your new appliances.
According to U.S. News & World Report, the last months of the year are a great time to shop for larger appliances such as refrigerators, washer and dryer units, dishwashers and air conditioning systems.
“New models usually come out in November, so we see a lot of deal activity on large appliances from Labor Day weekend through October. It’s not unusual to see discounts in the 30% to 40% off range,” shopping expert Trae Bodge indicated via U.S. News. Bodge elaborated to say that good promotions can be found at stores like Lowe’s, Best Buy and Home Depot.
The other issue at play, per U.S. News, is the timing of the Consumer Electronics Show (CES) in January, which introduces models for the new calendar year, further pushing down prices on existing inventory in the months prior.
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