Rebates + Financing + Tax Credits = Savings!
Starting in February of 2023, there are a number of opportunities for savings when you upgrade your home’s HVAC systems!
There are Federal tax credits and state government rebates that make funds available under the Inflation Reduction Act of 2022. There are also NEW manufacturer rebates for 2023, AND, you can pay over time with Kwik Comfort financing – 25 Months at 0% Interest with approved credit. All of this adds up to SAVINGs for you!
Green Energy Tax Credits
The Inflation Reduction Act of 2022 provides homeowners with significant benefits for upgrading their home’s mechanical systems to meet higher efficiency standards, which also took effect on January 1. The Energy-Efficient Home Improvement Credit, or section 25C of the act, lays out Federal Tax Credits for home improvements in four categories:
- Weatherizing – things like Aeroseal Duct Sealing, Windows, Doors, etc.
- Home Energy Audits, or Check-Ups
- Residential Energy Property – things like natural gas/oil/propane water heaters or boilers, or central air conditioning.
- Heat Pumps, Biomass Stoves/Boilers which include things like electric or natural gas heat pumps or heat pump water heaters.
This means you could get money off your 2023 tax bill for home improvements made in 2022 in each category.
State Government Rebates
In addition, Section 45L of the act, or the High-Efficiency Electric Home Rebate Act (HEEHRA) provides state-administered rebates for low- and moderate-income households (LMIs) who upgrade and electrify their homes’ mechanical systems. LMIs are determined based on the mean income in your area, so you may qualify. Each state will announce its program later this year, so check back for updates from Colorado.
In addition to Federal tax credits and State rebates, there may be rebates from your local or county governments, such as those highlighted on EcoWatch.com or on EnergyGrants.net. Also, check with your local power company for more options
As if all that wasn’t enough, Rheem is offering rebates on select heat pumps, furnaces, smart thermostats, air conditioning units, and other Rheem products from their Endeavor Prestige, Classic Plus, and Classic product lines. Most of the products offered with rebates meet the standards for the tax credits under the IRA. This is a great opportunity to stack savings opportunities and get the most value for your money.
You can also choose to pay over time with our Kwik Comfort financing program – 25 Months at 0% Interest with approved credit.
How about a Home Energy Check-up by All American Heating? Your Home Energy Check-Up is eligible for up to $150 in tax credits, by itself. During your Check-Up, we’ll help you determine where your home is losing energy – and costing you money in utility and energy bills. We’ll provide options you have for making your home greener and more energy efficient – and how you can get rebates and tax credits for your upgrades.
All American Heating can help you determine which systems are the best for your home and family, and provide guidance in terms of the programs for which they qualify.