Replacing or upgrading your HVAC system or installing a heat pump is often a necessary and unavoidable aspect of home maintenance, but sometimes the financial component can cause stress. The Inflation Reduction Act, also known as the IRA, allows area homeowners to benefit from increased rebates and tax credits that will help them save money but upgrade their system to make it more efficient, reducing their carbon footprint and benefiting the environment.
How the IRA Tax Credits and Rebates Benefit Area Homeowners
If you have an old or outdated HVAC system that requires replacement, the IRA will provide financial assistance through rebates and tax incentives, making the process more affordable. It can also save you money yearly on total energy bills and improve indoor air quality. You will benefit in different ways, whether you upgrade your HVAC system to a more efficient option or replace your air conditioner and furnace with a more efficient heat pump.
Increased Energy Efficiency With a Heat Pump Installation
A furnace is a system that heats your home in the winter; likewise, an air conditioner cools your home in the summer. One way to make your home more efficient is by replacing both units with a heat pump, which can cool and heat the home throughout the year. Heat pumps are customizable, efficient systems and can help you maintain an ideal home climate using less energy.
Those who opt to install heat pumps to replace a furnace and AC unit can benefit from the IRA tax credits because it lowers their carbon footprint and improves energy efficiency. This option can save you $10,000 or more over 15 years.
Lower Monthly Energy Bills
Older, inefficient furnaces and AC systems require more electricity, especially if issues are causing the system to overwork regularly. If your current HVAC system requires constant repair, it may signal that you need to upgrade to a newer, more efficient system.
The IRA will assist with the overall cost of the unit, and by upgrading an old, inefficient system to one that's more energy efficient, you'll not only lower your carbon footprint by improving the energy efficiency of your home, but you'll also reap the benefits of significantly lower monthly energy bills as a result.
Improved Indoor Environment
An old or outdated system can put your health at risk by not properly filtering out environmental pollutants, airborne particles, dust, dirt, and debris. Breathing any of these elements in your home can cause health issues or worsen pre-existing health conditions, including allergies and asthma. If you have one or more pets, it's even more important to have a more energy-efficient system to thoroughly filter the air in your home to create a cleaner indoor environment.
If you're interested in learning more about heat pump installation or want to upgrade your HVAC unit, we can help. Contact us today at Blaze Air to learn more about how you can benefit from the IRA, make your home more energy efficient, save money on installation and monthly energy costs, and improve your indoor environment.
*Disclaimer: "Brand Name" does not guarantee the availability of tax credits or rebate funds, nor the specific rebate or credit amounts that may be available to each individual. Rebates and tax credits are subject to change and may vary depending on factors such as geographic location, income level, and the specific details of the heating and cooling system being installed. In addition, please note that the information provided by "brand name" regarding tax credits is for general informational purposes only and should not be considered tax advice. Homeowners should consult with a qualified tax advisor to determine their eligibility for tax credits and to receive specific advice on their individual tax situation. "Brand Name" is not responsible for any errors or omissions in the information provided, and we make no guarantees or warranties regarding the availability or applicability of any tax credits or rebates.