Yes. Can I choose neither?
I agree with you. I don't think the tax incentive is the right tool.
The issue I see with rebates is that, again, the upfront cost is needed from the homeowner. It's that same story we've been talking about. They simply don't have the ability to put in that upfront cost and the issue, and what we need to solve for them, is their housing. By reducing their bills, we are increasing their disposable income and, in lower-income and medium-income households, that income can go directly back into the economy.
By investing in the infrastructure of these homes, you're solving that issue in a more equitable and more effective way.