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Here’s How the New US Climate Deal Could Make Energy Bills Cheaper

The proposal includes tax credits and rebates to cut the consumer costs of buying electric vehicles, heat pumps, biomass stoves, and more.

A ClipperCreek Inc. charging plug is seen connected to a Chevrolet Volt electric vehicle (EV) at a charging station in Los Angeles.

A ClipperCreek Inc. charging plug is seen connected to a Chevrolet Volt electric vehicle (EV) at a charging station in Los Angeles.

Photographer: Dania Maxwell/Bloomberg
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A surprise congressional budget deal announced Wednesday night boasts $370 billion in new spending for tackling climate change, including oodles of tax credits and rebates that could make it cheaper for people looking to drive and live more sustainably. 

“This bill is going to open up a lot of avenues for Americans to contribute to the fight against climate change on an individual level,” said Senator Sheldon Whitehouse, a Democrat from Rhode Island, in an emailed statement. “Through a mix of rebates for electric appliances and efficiency retrofits and tax credits for technologies like heat pumps … it’s going to become a lot more affordable to do your part.”