The Inflation Reduction Act Makes Energy-Efficient Upgrades More Affordable
The Inflation Reduction Act can help homeowners purchase new energy-efficient home improvements and appliances, including HVAC systems, by making them more affordable. This blog post will discuss the Inflation Reduction Act, the tax credits and rebates it offers qualifying homeowners, and the benefits of upgrading to a new heating or cooling system.
The Inflation Reduction Act Explained
The Inflation Reduction Act is a United States federal policy implemented to help reduce the cost of energy-efficient products for consumers. The act offers tax credits and rebates incentivizing homeowners to purchase environmentally-friendly home improvements such as air conditioners, heaters, and heat pumps that meet specific energy-efficiency requirements.
The act is aimed at incentivizing people to purchase more energy-efficient products, allowing them to save money on their monthly bills and reduce overall greenhouse gas emissions. The act also requires manufacturers to provide clear product labels describing the energy-efficiency levels of their products. Consumers can use this information to guide them in choosing products that offer the most energy-saving benefits.
Which HVAC Systems Qualify?
The Inflation Reduction Act provides tax credits and rebates for certain HVAC systems and heat pumps that meet its efficiency requirements. Systems must be installed after the beginning of 2023 to qualify. Heat pumps may be eligible for up to a $2,000 tax rebate, and gas furnaces and air conditioning systems could be eligible for up to $600.
The efficiency requirements vary based on the type of system. For example, air conditioning systems must have a seasonal energy efficiency ratio or SEER rating of 16 or higher. In addition to the efficiency requirements, all systems must be installed in the taxpayer’s primary residence.
Benefits of Upgrading
Installing a new HVAC system or heat pump is a great investment. A new system will be more energy efficient, reduce energy costs, and provide reliable performance. Lower energy bills from a new HVAC system and savings from the Inflation Reduction Act, which offers up to 30% in tax credits and rebates for upgrading, allow homeowners to save money in multiple ways.
In addition, a new, energy-efficient heating or cooling system will provide more reliable performance and make the home more attractive to potential buyers. Heat pumps have the additional benefit that they can be used for both heating and cooling instead of needing separate heaters and air conditioners. So take advantage of the Inflation Reduction Act, save money on energy bills, and reduce the home’s carbon footprint with an upgrade!
About Lambert Heating and Air Conditioning
Lambert Heating and Air Conditioning is a family-owned and operated company serving Downey, CA, and the surrounding communities. They provide upfront pricing, financing, and a 100% satisfaction guarantee. Call them today for AC, heater, or heat pump installations in Downey, CA.