If you’re in the market for a new HVAC system, or maybe are just looking for a way to reduce your greenhouse gasses, now is a great time to invest in a new electric heat pump. Heat pumps are an energy-efficient heating and cooling appliance that can replace a furnace and an air conditioner. Right now, there are some incentives provided within the Inflation Reduction Act that make heat pumps more affordable.
Understanding these incentives and determining the best HVAC system for your home can be confusing, though. Heartland Heating, Air and Plumbing can help you find a new heating and cooling system for your home and provide quality heat pump installation service at your Carbondale, IL area home. Keep reading to learn more about heat pumps and the tax credits and rebates available to take advantage of this great program.
What is the Inflation Reduction Act?
The federal government enacted the Inflation Reduction Act on August 16th, 2022. The act includes savings for energy-efficient home improvement upgrades for residents all over the country. Rebates and tax credits are available for a variety of upgrades to renewable energy like electric vehicles, solar panels, electric stoves, electric water heaters and heat pumps.
Heat Pump Tax Credit
The bill currently offers a 30% tax credit on a new air source heat pump installation, with a maximum credit of $2,000. To receive the tax credit, the heat pump you choose must meet certain energy requirements. It must be Energy Star certified and have a minimum Seasonal Energy Efficiency Ratio (SEER2) of 15.2 and a minimum Heating Seasonal Performance Factor (HSPF) of 7.8. Heartland Heating, Air and Plumbing helps homeowners match the ideal system to the needs of your home and align with these requirements.
Geothermal heat pump upgrades can also qualify. Homeowners who switch to a geothermal system can qualify for a 30% tax credit of the associated costs with no cap for the amount that can be claimed.
If you are interested in taking advantage of these credits, your new heat pump system must be installed between January 1, 2022 – December 31, 2032.
High-Efficiency Electric Home Rebate Act
The High-Efficiency Electric Home Rebate Act (HEEHRA) was designed to make these home energy improvement projects affordable for all families. The High-Efficiency Electric Homes rebate program offers low to median-income qualified households receive additional rebates to install a new heat pump system. The rebate covers 100% of associated costs of installation up to $8,000 for low-income households, and 50% of costs for moderate-income households.
Why Now is a Great Time To Upgrade Your HVAC System
Heartland can perform a home energy audit to see how much energy you could save by switching to a heat pump system. Our commitment to small town service cuts through all the confusion and finds the best system for you. The truth is heat pump technology keeps getting better and all climate heat pumps can provide comfort to your Carbondale area home just as well as a furnace or air conditioner.
The sooner you switch to an air source or geothermal heat pump, the sooner you’ll start saving energy and money. The savings are not simply on heat pump installation, but on your energy costs as well. Heat pumps use much less energy and electricity than a furnace or air conditioner. Plus, heat pumps provide better indoor air quality and reduce greenhouse gas emissions. If you’re ready to learn more about the advantages of heat pumps, talk to Heartland today.
Talk to Heartland to Learn More About Heat Pump Installation Services Today
Heartland is a Carrier Factory Authorized Dealer. Carrier is the standard in home comfort systems. We can provide you with a quality heat pump that will keep your home efficient and comfortable throughout the year. Our team has exceptional knowledge to help you understand how a heat pump works. Schedule an appointment for an estimate with Heartland today.