ICEE HOT Act of 2024

The ICEE HOT Act of 2024 establishes a federal rebate program to promote energy-efficient building electrification products. It provides 30% rebates to contractors, distributors, and manufacturers for eligible products like heat pumps, water heaters, and electric stoves, with 40% of funds required to support disadvantaged businesses or those with 40% disadvantaged employees. The program mandates that 85% of rebates be passed through to end consumers and offers additional incentives for union labor and high-efficiency products exceeding Energy Star standards. The bill authorizes $10 billion for states to implement these rebates from 2025-2032, aiming to increase product availability and address equity in the energy transition.