The Inflation Reduction Act has started to persuade more homeowners to consider switching over to a heat pump due to the available tax credits and rebates. With these rebates and tax credits, homeowners can potentially earn back some the money they put forward for a heat pump within the year. The end goal of the Inflation Reduction Act is to reduce household emissions and reach net zero by 2050. This means that 23 million homes currently heated by gas or oil will need to move to a low-carbon alternative, such as a heat pump.
Since heat pumps are fairly new and so different from other heating and cooling systems, let's break down common misconceptions about them and cover what's actually true.
First Off: What is a Heat Pump?!
Powered by electricity, heat pumps transfer heat using refrigerant instead of relying on burning fossil fuels the way traditional furnaces do, resulting in a very efficient option for homeowners who are looking to reduce their carbon footprint. Heat pump purchases are becoming extremely popular with homeowners who are looking to save money on their energy bills and switch over to clean energy.
MYTH #1: Heat pumps are noisy
Heat pumps are NOT noisy! Modern-day heat pumps have evolved into much quieter systems than ever before. The sound of a modern-day heat pump is equivalent to a whisper-quiet conversation in the library. Most people do not even notice the noise. Specific heat pumps, such as Trane's XV19 Variable-Speed Low-Profile Heat Pump, are even available for homes that require quiet systems due to city regulations. This specific model is designed to meet the low-level sound requirements some cities have established for mechanical HVAC systems.
MYTH #2: Heat pumps don’t work in cold climates
Yes, they do! As long as the heat pump is properly designed and installed, there is no need for a backup heating system. Heat pumps are a great energy-efficient option for all climates. There are heat pumps specially designed for specific climates and weather conditions, like Mitsubishi Electric's Hyper-Heat models. Contractors can provide options that fit customers' heating needs in climates with a range as low as -15 degrees Fahrenheit.
MYTH #3: Heat pumps are just for heating
False! They provide both heating and cooling despite the name HEAT pump. They are named "heat pumps" because they can effectively move heat into your home during the heating season and then reverse the process to move heat out of your home during the cooling season. This means that customers can use a heat pump system year-round to maintain a comfortable temperature inside their homes.
MYTH #4: Heat pumps are not environmentally friendly
Heat pumps are extremely environmentally friendly! They significantly use a lot less energy than any other heating and cooling system. Heat pumps do not make heat -- they simply move it around. The result is a decrease in CO2 emissions. They also operate on electricity and do not rely on gas or oil to heat your home during the winter.
Moreover, heat pumps are gaining a huge spotlight at the moment due to their efficiency and offer tax credits and rebates through the Inflation Reduction Act!
MYTH #5: Heat pumps are too expensive
Heat pump installation costs can be higher than traditional HVAC systems, but the initial cost can be offset by future savings you will be making. Switching from your current, traditional heating and cooling system to a heat pump can save you hundreds of dollars in energy bills, meaning you can start to save money on your bills and accumulate money back initially spent on the heat pump that same year!
With tax credits and rebates available with the new Inflation Reduction Act, you can save up to $2,000 this year on a brand-new heat pump installation. That's a ton of savings!
MYTH #6: It is difficult to install a new heat pump
The installation process is quick and easy! Heat pumps are very versatile and can be added to any existing construction. A properly sized heat pump can be used to heat your living space, regardless of insulation or the age of your home. Most of the heat pumps' larger components are installed outside of the home and need space for pipes, access for maintenance, and air circulation and take up space identical to AC sizing.
Not to mention, heat pumps can be ductless, meaning they can be added to any home or room to increase comfort.
Final Thoughts
The Inflation Reduction Act of 2022 provides ten years of consumer tax credits to make homes energy efficient and run on clean energy. This makes HVAC technology such as heat pumps, electric HVAC, water heaters, insulation, and smart thermostats more affordable.
Heat pumps will last 15-20 years as long as they are properly maintained. With tax credits and rebates, installing a heat pump is a no-brainer to consider. If you are interested in an efficient heating system and lower utility costs, a heat pump could be the answer to your home's heating and cooling needs.
ECI Comfort specializes in installing heat pump systems in the Delaware Valley/Greater Philadelphia area. Learn more about these opportunities by clicking the button below, or giving us a call at 215-245-3200.
