Online Savings Calculator and Educational Tools From Eaton Help Homeowners and Electricians Embrace Home Electrification

Rhea-AI Summary

Eaton has launched its new Inflation Reduction Act (IRA) Savings Calculator in collaboration with Rewiring America. This tool helps homeowners estimate federal tax rebates and incentives for electrical system upgrades. The calculator provides personalized savings estimates, detailed breakdowns of smart technology recommendations, and connects users with local Eaton Certified electricians.

The initiative supports Eaton's Home as a Grid approach, which aims to transform homes from energy users to producers through intelligent energy management technologies. With $369 billion in IRA funding available for clean energy programs, the calculator simplifies access to sustainable living practices while helping contractors better advise clients on eco-friendly upgrades.

Positive

• Launch of new IRA Savings Calculator tool expanding service offerings
• Strategic partnership with Rewiring America enhancing market reach
• Access to $369 billion IRA funding market opportunity
• Reported revenues of $23.2 billion in 2023

Negative

• None.

Insights

Market Research Analyst

The launch of Eaton's IRA Savings Calculator represents a strategic move to capitalize on the $369 billion IRA funding opportunity in clean energy. While this tool itself won't directly generate significant revenue, it positions Eaton advantageously in the residential electrification market by:

• Creating a sales funnel by connecting homeowners with Eaton Certified electricians
• Expanding market share in smart home technologies and Wi-Fi enabled devices
• Strengthening Eaton's contractor network through specialized training

The partnership with Rewiring America adds credibility and expands reach. With $23.2 billion in 2023 revenues, this initiative aligns with Eaton's long-term strategy to dominate the residential power management space and capitalize on electrification trends.

• New Inflation Reduction Act (IRA) Savings Calculator provides personalized estimates of federal tax rebates and incentives to upgrade electrical systems.

• Eaton furthers its mission of advancing residential electrification using its Home as a Grid approach, providing real-time insights on home energy use to enhance renewable energy investments.

PITTSBURGH, PA / ACCESSWIRE / October 28, 2024 / Intelligent power management company Eaton has launched its new Inflation Reduction Act (IRA) Savings Calculator, a valuable resource for homeowners seeking cost-effective ways to upgrade their electrical systems and electrical contractors looking to recommend energy upgrades to their clients.

Launched in collaboration with Rewiring America, the IRA savings calculator is designed to demystify the complex landscape of IRA benefits for those seeking to embrace electrification. Homeowners can enter basic information to receive a personalized savings estimate with available up-front discounts, rebates and tax credits on a variety of electrical upgrades. Additionally, homeowners can receive a detailed breakdown of suggested smart technologies and home electrical system upgrades to install in the home as well as contact information for local Eaton Certified electricians to assist with the safe, fast installation of energy-efficient solutions.

"Advancing electrification initiatives requires educating the public about opportunities for homeowners to save money through electrical upgrades," said Erik Drost, marketing manager at Eaton. "With $369 billion in IRA funding available for clean energy and climate programs, homeowners and contractors alike need to understand which rebates and incentives are available in their area and how to access them. Our easy-to-use IRA Savings Calculator streamlines the path to sustainable living practices, providing homeowners with actionable information while better enabling contractors to become a trusted resource."

Eaton's new online tool helps contractors better advise their clients on eco-friendly upgrades by delivering detailed breakdowns of federal tax rebates and incentives that will help lower appliance and installation costs. Eaton's Certified Contractor Network offers specialized training to contractors that helps them remain up to date on the latest electrification initiatives, taking their residential service and renovation business to the next level.

"We're excited to see tools like the Savings Calculator make it easier for people to access the billions of dollars in incentives available through the Inflation Reduction Act," said Rewiring America's Director of Market Mobilization Ian Magruder. "By helping homeowners and contractors navigate the benefits, we're empowering more communities to take advantage of cost-saving clean energy upgrades. The more we educate and simplify the process, the more people can benefit from these historic opportunities for energy savings."

Eaton's ongoing efforts to accelerate residential electrification are an essential component of its Home as a Grid approach, which leverages intelligent home energy management technologies to turn homes from energy users into energy producers. Also essential to this approach are Eaton's expanded portfolio of Wi-Fi wiring devices, including a first-of-its-kind Wi-Fi Smart Outdoor Duplex Receptacle, which simplifies installation options for electrical contractors and helps homeowners enjoy the possibilities of a fully connected home.

Learn more about Eaton's IRA Savings Calculator. Eaton's portfolio of solutions for federal clean energy, stimulus and infrastructure funding are outlined as part of its Stronger Future initiative.

Eaton is an intelligent power management company dedicated to protecting the environment and improving the quality of life for people everywhere. We make products for the data center, utility, industrial, commercial, machine building, residential, aerospace and mobility markets. We are guided by our commitment to do business right, to operate sustainably and to help our customers manage power - today and well into the future. By capitalizing on the global growth trends of electrification and digitalization, we're accelerating the planet's transition to renewable energy sources, helping to solve the world's most urgent power management challenges, and building a more sustainable society for people today and generations to come.

Eaton was founded in 1911 and has been listed on the New York Stock Exchange for more than a century. We reported revenues of $23.2 billion in 2023 and serve customers in more than 160 countries. For more information, visit www.eaton.com. Follow us on LinkedIn.

Contact:

Kristin Somers
+1.919.345.3714
Kristincsomers@eaton.com

Mark Van Hook
Largemouth Communications
+1.978.495.1851
mark@largemouthpr.com

View additional multimedia and more ESG storytelling from Eaton on 3blmedia.com.

Contact Info:
Spokesperson: Eaton
Website: https://www.3blmedia.com/profiles/eaton
Email: info@3blmedia.com

SOURCE: Eaton

View the original press release on accesswire.com

FAQ

What is Eaton's new IRA Savings Calculator and when was it launched?

Eaton (ETN) launched its IRA Savings Calculator in October 2024, a tool that helps homeowners calculate federal tax rebates and incentives for electrical system upgrades, developed in collaboration with Rewiring America.

How much IRA funding is available for Eaton's clean energy programs?

There is $369 billion in IRA funding available for clean energy and climate programs that can be accessed through Eaton's (ETN) calculator tool.

What was Eaton's revenue in 2023?

Eaton (ETN) reported revenues of $23.2 billion in 2023, serving customers in more than 160 countries.

What is Eaton's Home as a Grid approach?

Eaton's (ETN) Home as a Grid approach is a strategy that uses intelligent home energy management technologies to transform homes from energy consumers into energy producers.