Discover How the Inflation Reduction Act Rewards Homeowners for Energy-Efficient Upgrades
There is a solution for homeowners who want to upgrade their HVAC system but are concerned about the costs. The Inflation Reduction Act offers tax credits and rebates to homeowners who invest in energy-efficient home improvements, such as a new heater, air conditioner, or heat pump. This blog post will provide readers with an understanding of how the Inflation Reduction Act works and how it can make upgrading the HVAC system more affordable.
Exploring the Inflation Reduction Act
The Inflation Reduction Act is a piece of legislation passed by the United States Congress. Its purpose is to reduce the rate of inflation that had been steadily increasing and focus on climate and energy. The Inflation Reduction Act also encourages homeowners to invest in energy-efficient home improvements by providing tax credits and rebates, including new energy-efficient heating and cooling systems that can lower their carbon footprint and save money on energy bills.
Homeowners must purchase and install an eligible system within the timeframe specified by the act to qualify for tax credits and rebates. The amount of tax credits and rebates available varies based on the type of system installed, its energy efficiency, and other factors.
Discover Which Systems Qualify
To qualify for tax credits or rebates, HVAC systems and heat pumps must meet certain energy efficiency requirements. The system must meet or exceed the highest efficiency tier established by the Consortium for Energy Efficiency to be eligible for the incentives.
Heat pumps may be eligible for a tax rebate of 30 percent of the project cost up to $2,000, while gas furnaces and ACs may qualify for 30 percent of the cost up to $600. This applies to installations starting in 2023, so it’s the perfect time to upgrade to a new, energy-efficient system.
How Upgrading the HVAC System Can Benefit Homeowners
There are numerous advantages to installing a new HVAC system or heat pump. The Inflation Reduction Act allows homeowners to take advantage of tax credits and rebates for installing an energy-efficient system, resulting in savings. Furthermore, the system’s energy efficiency can assist homeowners in saving even more money on their monthly energy bills.
Homeowners can improve their indoor air quality and their comfort and control over their home’s temperature by upgrading to a new HVAC system. Homeowners will also benefit from increased reliability and fewer repairs with a new system. Overall, investing in a new HVAC system or heat pump is a wise decision to benefit both the environment and a homeowner’s wallet.
About Priced Right Heating & Cooling
Priced Right Heating & Cooling is a veteran-owned business serving Lenexa, KS, and the surrounding communities. They provide upfront pricing, quick turnarounds, and personal attention. Call them today for an air conditioner, heater, or heat pump installation in Lenexa, KS.
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