Check out this information on how you can save money on new energy-efficient HVAC systems, like electric heat pumps! The White House recently signed a bill to offer eligible homeowners money-saving incentives for “greener” electric home appliances and systems.
Homeowners who need a new heating/cooling system can benefit from this by installing a heat pump. A heat pump can supplement or fully replace your furnace/boiler and AC system by providing both heating and cooling for your home.
This highly efficient alternative can save you hundreds of dollars a year on energy bills; and with the Inflation Reduction Act, tax credits and rebates can cover up to 100% of the costs for a new heat pump, depending on household eligibility. Plus, heat pumps can be ductless!
Whether you don’t have existing ductwork or you just have rooms that are too hot or too cold, an energy-efficient ductless heat pump is the perfect solution. So, how can you benefit from these new incentives?
The High-Efficiency Electric Home Rebate Program (HEEHRP), designed to support low-to-moderate income (LMI) households, offers an $8,000 cap on rebates for qualified heat pumps. This 10-year program (administered through State Energy Offices) is likely to start mid-2023.
The Energy-Efficient Home Improvement Tax Credit (25C), which is a 10-year extension of the existing tax credit, offers tax credit increases up to $2,000 for buying and installing qualified heat pumps. This program begins with tax year 2023 (January 1st, 2023), meaning you can claim credit on your 2023 taxes.
Households may claim annually through 2032. In addition to these incentives, ECI Comfort offers great financing options to help spread out costs of a new system.
To learn more, visit our website/blog at www.ecicomfort.com. Call ECI today at 267-227-0995 to schedule a free estimate or ask any questions!
PHOTO CAP: Mitsubishi Electric Heat Pump from ECI Comfort