If you or a family member has medical equipment that requires uninterrupted power, then a whole house generator is an essential tool. While Medicare does not cover the cost of generators, there are still ways to receive financial assistance for residential backup generator installation.
For example, you may qualify for a home generator grant from PEMA or FEMA depending on where you live. In addition, you might qualify for Medicaid Waiver program funding that covers environmental accessibility modifications to your home.
Cost
A whole house generator is a large machine that can power your entire home when the power goes out. It can also help you save money on energy bills since it reduces the amount of electricity that your appliances use.
The cost of a whole house generator varies depending on how big your home is and the type you choose. The average nationwide price is $9,520.
Buying and installing a whole house generator can be costly, but it’s well worth the cost in the long run. It’s a good idea to shop around and find the best deal for your needs.
Some states offer financial assistance for generators and other home modifications through Medicaid waiver services. These programs are designed to help people stay in their homes rather than going into a medical care facility. In addition, FEMA has a generator reimbursement program that pays back the cost of a generator should there be an electrical outage after a disaster in your area.
Maintenance
Keeping your whole house generator in working order can be a challenge. Common maintenance issues include battery replacements, spark plugs, and breaker repairs. Fortunately, many of these tasks can be done by a qualified professional. In addition, it’s important to get an annual inspection to keep your generator in tip-top shape. One of the most challenging parts of a generator’s lifespan is replacing a dead battery, which can be a costly and time-consuming task. If you can’t afford the outlay, be sure to call your local electric provider for assistance. For homeowners on a budget, the best bet is to seek out community support programs that offer low-cost or free energy efficiency improvements for your home. This will reduce your energy bills and help you reclaim some of the money you’ve lost in energy taxes.
Insurance
Many people with serious health conditions rely on medical equipment that requires a continuous supply of electricity to function. Without power, these machines may stop working, and could be fatal if not properly managed.
Whole house generators can provide total home power during a power outage, guaranteeing that all of your major appliances and critical systems will function. However, these backup generators can also come with a hefty price tag.
Fortunately, there are ways to get financial help for whole house generator grants. One such option is through FEMA, which helps pay for generator rentals or purchases when a state of emergency has been declared.
Another way to get help for a whole house generator is through Medicaid waiver programs. These programs help individuals with severe medical problems to stay in their homes instead of nursing facilities.
Taxes
A whole house generator can be a great way to keep you and your family warm and safe during power outages. However, the IRS has a few rules that make this type of home improvement less tax-friendly than you might expect.
The most important one is that a generator may not be deductible, depending on the type of generator and whether it increases the value of your property. That said, the best part is that if you are fortunate enough to receive a grant for installing a generator then the IRS may allow it as a tax credit provided you follow the rules and have proof of need.
There are a number of other tax incentives that are available to homeowners including a new and improved solar energy credit, a revived tax break for EV battery charging technology, and a tax deduction for using an eco-friendly lighting system to save money on your electricity bill. For the most part, these tax breaks are designed to encourage Americans to do something about climate change.