Franklin Energy, New Mexico Energy, Minerals, and Natural Resources Department Launch First IRA-Funded Retailer-Redeemable Home Electrification and Appliance Rebates Program

/EIN News/ -- PORT WASHINGTON, Wis., Sept. 04, 2024 (GLOBE NEWSWIRE) -- Franklin Energy, a leading provider of energy efficiency and sustainable energy management solutions, announced today that along with the state of New Mexico’s Energy, Minerals, and Natural Gas Department, they have launched the first retail-driven Home Electrification and Appliance Rebate (HEAR) program in the country.

The HEAR program is funded through the federal Inflation Reduction Act (IRA) of 2022, the largest investment in reducing carbon pollution in the country’s history. As HEAR rolls out through state governments across the nation, New Mexico is setting the pace as one of the first states to have applied to the federal Department of Energy for HEAR funds; they are also among the earliest to procure an implementation partner with their contract award to Franklin Energy.

Backed by $43 million in funding from the U.S. Department of Energy, New Mexico’s HEAR program is being administered by the Energy Conservation and Management Division (ECMD) of the state’s Energy, Minerals and Natural Resources Department (EMNRD), aiming to advance clean energy adoption across the state.

“New Mexico is the fourth state to launch a rebate program and the first to launch a HEAR program with point-of-sale rebates. This enables residents to receive user-friendly home energy efficiency rebates instantly at retail point-of-sale locations, ultimately reducing the barriers to energy efficiency products,” said Terry Sobolewski, Franklin Energy CEO. “For the last three decades, Franklin Energy has continued to transform our capabilities into resources that can be leveraged by the entire ecosystem of energy solution providers. Here, we developed a plan that aligns the complex DOE requirements with the needs of retailers, allowing the team to provide New Mexico’s single-family low-income households with a simplified and streamlined experience, ensuring equitable distribution of rebates throughout the state.”

The HEAR program offers rebates to help low-income New Mexico residents—homeowners and renters alike—seeking to upgrade their single-family homes with energy-efficient technologies, including insulation, heat pumps, and ENERGY STAR®-certified appliances. These instant rebates will reduce the price of these energy-saving products directly at the point of purchase, making them more accessible to low-income households.

“As a resident of New Mexico, I’m thrilled to be working in my own backyard,” said Alyssa Latuchie, Franklin Energy Director of Market Development and a Santa Fe, New Mexico resident. “Franklin Energy recognizes the monumental legislation of the IRA, and we are excited to leverage our local knowledge and partnerships to reach more low-income residents than ever before, streamlining the application process and maximizing rebates.”

Franklin Energy will work with ECMD to implement the HEAR program, bringing rebates to low-income New Mexicans. Eligible participants can receive up to $14,000 in rebates per household, significantly reducing the financial barrier to making energy-efficiency upgrades.

To learn more about New Mexico’s program and apply for a rebate, visit Clean.Energy.nm.gov.

About Franklin Energy

Franklin Energy delivers end-to-end sustainable energy management solutions through a portfolio of intelligent products and services that lowers costs, reduces carbon waste, and grows stronger communities and local economies. Franklin Energy is committed to achieving net-zero carbon emissions by 2025, protecting our communities and planet while building a brighter, more sustainable future. 

About New Mexico Energy Conservation Management Division

The Energy Conservation and Management Division (ECMD) is part of the New Mexico Energy, Minerals and Natural Resources Department (EMNRD), the agency that is leading the state’s charge toward clean energy adoption. ECMD is the U.S. Department of Energy’s designated State Energy Office for New Mexico.

 

Kristi Longballa
                    Franklin Energy
                    775-204-5860
                    klongballa@franklinenergy.com