{"id":16815,"date":"2023-03-29T12:46:09","date_gmt":"2023-03-29T12:46:09","guid":{"rendered":"https:\/\/www.fhfurrblogs.jdmps.com\/?p=4741"},"modified":"2023-03-29T12:46:09","modified_gmt":"2023-03-29T12:46:09","slug":"heat-pump-hvac-savings-with-inflation-reduction-act","status":"publish","type":"post","link":"https:\/\/fhfurr.com\/offers\/heat-pump-hvac-savings-with-inflation-reduction-act\/","title":{"rendered":"HVAC &#038; Heat Pump Savings With the Inflation Reduction Act"},"content":{"rendered":"<p><span data-preserver-spaces=\"true\">Considering a heat pump upgrade for your home? We&#8217;ve got great news for you! With the Inflation Reduction Act (IRA), you can take advantage of significant tax credits and rebates to lower your carbon footprint and make your home more energy-efficient.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">These IRA incentives will help all homeowners:<\/span><\/p>\n<ul>\n<li><span data-preserver-spaces=\"true\">Reduce monthly energy bills by saving money<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Get huge tax deductions and rebates<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Maintain a cleaner, healthier indoor environment<\/span><\/li>\n<\/ul>\n<p><span data-preserver-spaces=\"true\">By replacing old, outdated, and inefficient heating and cooling systems and equipment, homeowners can reduce the energy they are using and save money in the long run. Now it&#8217;s even more affordable with the IRA!<\/span><\/p>\n<h2>Get Psyched for Heat Pump &amp; HVAC Savings<\/h2>\n<p><span data-preserver-spaces=\"true\">Heat pumps offer significant savings over furnace\/air conditioner combinations. Over the course of 15 years, heat pumps can save the average American homeowner around $10,000. If your home currently uses electric heat, such as a baseboard heater, electric furnace, propane, or fuel oil, you can save closer to $15,000 over 15 years.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Take a look at the tax credits offered through the IRA for immediate savings. The tax credits began on Jan. 1, 2023, and rebates will be available later in the year for equipment and installation purchases.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u00a0Here are the tax credits that you may qualify for:<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-4737 size-full\" src=\"https:\/\/fhfurr.com\/offers\/wp-content\/uploads\/2023\/03\/25-Tax-Credit.png\" alt=\"Table with a breakdown of how much money homeowners can save based on which HVAC system they own.\" width=\"656\" height=\"516\" \/><\/p>\n<h3><span data-preserver-spaces=\"true\">Heat Pumps<\/span><\/h3>\n<p><span data-preserver-spaces=\"true\">Heat pumps replace and upgrade two systems in your home: your furnace and air conditioner. Heat pumps are extremely energy-efficient compared to traditional natural gas furnaces and air conditioners most homes use today. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Compared to other types of heating and cooling systems, heat pumps have some advantages:<\/span><\/p>\n<ul>\n<li><span data-preserver-spaces=\"true\">Since it provides both warm and cool air, it not only saves on the cost and maintenance of two units but also takes up less space since it is a single unit.<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Heat pumps require only a once-a-year system check and require little maintenance.\u00a0<\/span><\/li>\n<li><span data-preserver-spaces=\"true\">Heat pumps do not emit fumes into the air since they do not burn fossil fuels. Environmentally friendly, this reduces carbon footprints. It also saves you money by removing natural gas (including propane or other fuel types) from your bills.<\/span><\/li>\n<\/ul>\n<h3><span data-preserver-spaces=\"true\">Air Conditioners<\/span><\/h3>\n<p><span data-preserver-spaces=\"true\">\u00a0Even without a heat pump, the latest air conditioners can save you money on your energy bill and reduce carbon emissions. Ask the HVAC pros at F.H. Furr Plumbing, Heating, Air Conditioning &amp; Electrical what they recommend for homeowners.<\/span><\/p>\n<h3><span data-preserver-spaces=\"true\">Furnaces<\/span><\/h3>\n<p><span data-preserver-spaces=\"true\">In some households, a heat pump is not a good fit because of the house&#8217;s structure or the environment. In this situation, an energy-efficient furnace may be more appropriate. You can save up to $600 with the tax credits included in the Inflation Reduction Act if you are upgrading your furnace.<\/span><\/p>\n<p><strong><span data-preserver-spaces=\"true\">Give F.H. Furr Plumbing, Heating, Air Conditioning &amp; Electrical a call at [site_info_phone_number] to have a pro assess your HVAC system and make recommendations.<\/span><\/strong><\/p>\n<h2>Inflation Reduction Act: Heat Pump &amp; HVAC 25C Tax Credits in 2023<\/h2>\n<h3>Energy Efficiency Home Improvement 25C Tax Credit<\/h3>\n<p><span data-preserver-spaces=\"true\">Some existing tax credit and deduction programs were expanded and extended by the IRA. One of the biggest is the 25C tax credit, also called the Energy Efficiency Home Improvement Tax Credit. For 2023, the 25C tax credit will cover 30% of the total cost of new energy-efficient qualified systems. As of Jan. 1, 2023, all homeowners are eligible for the 25C tax credit.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">As a homeowner, scheduling a heat pump installation or HVAC upgrade with F.H. Furr in 2023 means you will be able to deduct 30% of your total costs, with a total cap of $3,200 in tax credits, up to a maximum of $2,000 for a heat pump, when filing your taxes.<\/span><\/p>\n<h2>Homeowner Managing Energy Savings (HOMES) Whole-House Rebates (The HOMES Rebate Program)<\/h2>\n<p><span data-preserver-spaces=\"true\">There are other incentives included in the Inflation Reduction Act besides the 25C program. In 2023, the HOMES rebate will also be available. In this rebate, you&#8217;ll get money back based on how much energy you save by making upgrades throughout your home.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The HOMES Rebate is available to all homeowners, but low- and medium-income households are eligible to receive a larger rebate. Rebates are provided based on the percentage of energy savings. Low- and middle-income households who reduce their energy use by 35% can receive up to $8,000 as a part of this program.<\/span><\/p>\n<p>NOTE: The HOMES rebate cannot be combined with the HEEHRA Rebates but can be combined with the Inflation Reduction Act tax credits.<\/p>\n<p><strong><span data-preserver-spaces=\"true\">Call<\/span> F.H. Furr<span data-preserver-spaces=\"true\">\u00a0at [site_info_phone_number] to\u00a0<\/span><\/strong><a class=\"editor-rtfLink\" href=\"https:\/\/fhfurr.com\/offers\/contact\/\"><strong><span data-preserver-spaces=\"true\">schedule an appointment<\/span><\/strong><\/a><strong><span data-preserver-spaces=\"true\">\u00a0and see how you can save money with a heat pump or other HVAC upgrade and have this rebate apply to you.<\/span><\/strong><\/p>\n<h2>High-Efficiency Electric Home Rebate Act (HEEHRA)<\/h2>\n<p><span data-preserver-spaces=\"true\">The High-Efficiency Electric Home Rebate Act (HEEHRA) is another provision of the Inflation Reduction Act that can be used for heat pump installations and HVAC upgrades. There are up to $14,000 in point-of-sale discounts (not tax deductions) available for electrical projects. The discounts are applied at the time of purchase.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">For households making between 80% and 150% of the area&#8217;s median income, these discounts are capped at 50% of qualifying costs. HEEHRA covers 100% of qualifying costs up to $14,000 if your household earns less than that threshold.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-4738 size-full\" src=\"https:\/\/fhfurr.com\/offers\/wp-content\/uploads\/2023\/03\/HEEHRA-Rebate-Levels.png\" alt=\"A table that shows which electrical services are covered by tax rebates for eligible homeowners.\" width=\"650\" height=\"523\" srcset=\"https:\/\/fhfurr.com\/offers\/wp-content\/uploads\/2023\/03\/HEEHRA-Rebate-Levels.png 650w, https:\/\/fhfurr.com\/offers\/wp-content\/uploads\/2023\/03\/HEEHRA-Rebate-Levels-300x241.png 300w\" sizes=\"auto, (max-width: 650px) 100vw, 650px\" \/><\/p>\n<p><span data-preserver-spaces=\"true\">You may claim HEEHRA rebates and tax credits even if you cannot combine other rebates (the HOMES rebate and the HEEHRA rebate cannot be combined).<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Funds for the HEEHRA will be available later in 2023, as with the HOMES rebate program. State implementation and Department of Energy guidelines will determine the exact timeline and date. State governments determine whether HEEHRA rebates are retroactive. With HEEHRA, low-income households will receive larger and more accessible upfront discounts.\u00a0<\/span><\/p>\n<p><strong><span data-preserver-spaces=\"true\">Contact F.H. at<\/span><\/strong><strong><span data-preserver-spaces=\"true\">\u00a0[site_info_phone_number] to <a href=\"https:\/\/fhfurr.com\/offers\/contact\/\">schedule an appointment<\/a> and see how you can upgrade your house and save with the HEEHRA or HOMES rebates.<\/span><\/strong><\/p>\n<p>Get answers to all your heat pump, HVAC, and Inflation Reduction Act (IRA) questions from\u00a0F.H. Furr Plumbing, Heating, Air Conditioning &amp; Electrical.<\/p>\n<p><span data-preserver-spaces=\"true\">IRA rebates and tax incentives are something our experts understand and know how to apply. Heat pumps, HVAC upgrades, and many other energy-efficient home improvements are eligible for IRA rebates and incentives. Let F.H. Furr help you choose the right system for your home and work with you on what IRA tax rebates apply.<\/span><\/p>\n<p><strong><span data-preserver-spaces=\"true\">Contact us today at [site_info_phone_number] to\u00a0<\/span><\/strong><a class=\"editor-rtfLink\" href=\"https:\/\/fhfurr.com\/offers\/contact\/\"><strong><span data-preserver-spaces=\"true\">make an appointment<\/span><\/strong><\/a><strong><span data-preserver-spaces=\"true\"> or ask questions you may have about how you can take advantage of the Inflation Reduction Act.<\/span><\/strong><\/p>\n<div class=\"contact-form-page-contact\">\n<h3 class=\"vc_custom_heading\">Contact us to take advantage of the $369 billion Inflation Reduction Act<\/h3>\n<p>[gravityform id=&#8221;9&#8243; title=&#8221;false&#8221; description=&#8221;false&#8221; ajax=&#8221;true&#8221;]<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Considering a heat pump upgrade for your home? We&#8217;ve got great news for you! With the Inflation Reduction Act (IRA), you can take advantage of significant tax credits and rebates to lower your carbon footprint and make your home more energy-efficient. These IRA incentives will help all homeowners: Reduce monthly energy bills by saving money [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":16667,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[35],"tags":[],"class_list":["post-16815","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-heating"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>HVAC &amp; Heat Pump Savings With the Inflation Reduction Act | F.H. 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