A federal grant program to help homeowners convert their oil furnaces to electric heat pumps could potentially cost as much as $2.7 billion, almost four times its initial budget of $750 million, according to the Parliamentary Budget Officer (PBO).
“The PBO estimates that there are up to 244,000 households nationwide that could be eligible for OHPA [Oil to Heat Pump Affordability] program funding,” said a legislative costing note published Jan. 18, as first covered by Blacklock’s Reporter.
