At Wilmington Air in Wilmington, NC, we’re excited to inform you that the Inflation Reduction Act can provide significant savings on your HVAC upgrades for your home’s energy efficiency. By taking advantage of available tax credits and rebates, you can save money on the installation of new, more efficient units that reduce your monthly energy expenses and allow you to enjoy a fresher and healthier indoor atmosphere.
Tax Credits and Rebates
At Wilmington Air, our HVAC experts can provide recommendations on what works best for your home while qualifying for the highest credits and rebates. If you’re considering upgrading your HVAC system, you could save in taxes the next year you file and enjoy savings on energy bills going forward.
The IRA has expanded and extended the 25C Energy Efficiency Home Improvement Tax Credit as part of the Inflation Reduction Act, and that’s great news for those looking to save. For 2023, the 25C tax credit now covers 30% of the cost of new energy-efficient systems for all homeowners and even more if you’re a low- and moderate-income household. There’s a total cap of $3,200 in tax credits and a maximum of $2,000 for a single heat pump.
However, tax credits aren’t the only way you can save. You can also receive rebates for qualifying, energy-efficient appliances of up to $8,000 (for low- to middle-income households) if you cut your energy usage by 35% or more.
Heat pumps work by transferring heat from one area to another. They extract warmth from the outdoors during colder months and transfer it indoors, while during warmer months, they perform the reverse process. Because heat pumps are so energy efficient, the IRA offers even greater rebates and tax credits for heat pumps than traditional HVAC and air conditioner systems. If that interests you, ask our experts about the best options.
While heat pumps are great, there are times when they’re not the best solution for a particular home. If that’s the case for you, we can recommend efficient new HVAC options that will still help you save big on energy bills, reduce your environmental impact, and qualify for tax credits and rebates.
Find Out More About Inflation Reduction Tax Credits
At Wilmington Air, we can help you get the best upgrades for your home to save the most money, both now and in the future, as you enjoy reduced energy bills. Contact our team today and learn about all your options. We’re locals serving locals for more than a decade, and we’re excited about the way the Inflation Reduction Acts offers benefits for you and our world.
*Disclaimer: Wilmington Air 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.