Now is the time to slash energy costs with help from the Inflation Reduction Act. When it comes to installing a heat pump or another energy-efficient system, savings will depend on household income and qualifying equipment. While you'll have to wait a little longer to receive rebates, you can apply for tax credits any time through 2032. Find out more details with these seven facts you should know about the IRA and heat pumps.
This season, Bucks County and Philadelphia homeowners can stay cozy and turn up the heat without turning up the costs using energy-efficient oil and gas heating systems. Homeowners can also enjoy cool homes with energy-efficient heat pumps and ductless systems. Check out these new rebates and incentives from PGW, NORA, and the IRA that can help alleviate costs when upgrading your HVAC system.
The Inflation Reduction Act (IRA) signed by President Biden in August 2022 aims to build a new economy that helps working families. These actions will push to switch households and companies over to clean energy, save American households up to thousands of dollars a year, and tackle the climate crisis in the United States. Switching and installing certified energy-efficient systems can put money back in Americans' pockets through tax credits and rebates. These tax credits cover a wide range of home energy-efficiency improvements, including equipment like heat pumps, air conditioners, heat pump water heaters, doors, windows, insulation, and more.
With renewed tax credits and rebates under the "Inflation Reduction Act", you can receive money back just for installing a new energy-efficient system! The 25C Tax Credit, which is an extension of an existing tax credit, covers eligible services and home improvements such as heat pumps, heat pump water heaters, insulation and air sealing, energy audits, and more.
From groceries to gas prices, to bigger purchases like new heating and cooling systems, U.S. homeowners and adults have been feeling the burden of rising prices over the last several months. As a result, the White House signed the Inflation Reduction Act (IRA) into law in August. The $740 billion climate and health care bill aims to reduce emissions, invest in climate protection, and offer eligible homeowners money-saving incentives for "greener" home appliances and systems. Continue reading for an Inflation Reduction Act summary.
On Tuesday, August 16, 2022, President Biden signed the Inflation Reduction Act (IRA) into law. Now one of the largest legislative packages that has been moved in years, the IRA covers healthcare, climate change, and tax bill.