Inflation Reduction Act Guide
Times are changing and our industry is changing along with it. As energy efficiency and environmental friendliness have become a larger focus worldwide, it has become obvious our home comfort systems need to do their part too.
The Inflation Reduction Act (IRA) is legislation that was signed into law in 2022 and started going into effect in 2023. The programs created by the IRA help make it easier for homeowners to reduce environmentally harmful emissions and improve their homes’ energy efficiency. If you are considering an HVAC system upgrade, then it is a good idea to see if and when you qualify to use funding from the IRA programs.
For energy efficient upgrades in your home, contact Mack Morris Heating & Air Conditioning. We can’t control the weather outside of your home, but we can control the weather inside your home.
What to Know About the Inflation Reduction Act
The 2022 Inflation Reduction Act was passed which set aside a certain amount of funds to make it easier for homeowners throughout the US to invest in efficient home upgrades. Those funds are available in Charlottesville, VA and throughout other parts of Virginia too.
The IRA created two specific programs that homeowners can benefit from: HOMES and HEEHRA. These programs allow homeowners to reap the benefits of tax credits or rebates when they upgrade or install highly energy-efficient systems in their homes. Qualifying systems can include heat pump, high-efficiency furnaces, home insulation, and more.
Saving With the High-Efficiency Electric Home Rebate Act Program
The High-Efficiency Electric Home Rebate Act (or HEEHRA) was created to help low to median-income households gain easier access to energy efficient home upgrades. Qualifying households can enjoy up to $14,000 in rebates that will help them with the electrification of their home.
You can visit the Rewiring America Savings Calculator to learn more about how much you may be able to save and what systems you can install in your home with the help of this program.
How to Qualify for HEEHRA
If you are interested in making your home more energy efficient, then you’ve already taken a first step in the right direction. The next step is applying.
Ultimately, the funding that you qualify for will depend on your household income and the systems or other clean energy upgrades that you hope to make in your home. You can visit the Rewiring America Savings Calculator to learn more about how much you may be able to save and what systems you can install in your home with the help of this program.
Financial Incentives for Energy-Efficient Heat Pumps
One of the most helpful aspects of the programs created by the IRA is the way they help with heat pump installations or upgrades. If you are in the market to add a heat pump to your home, then you can likely qualify for home efficiency rebates like the ones offered by the IRA.
These rebates can cover up to 80% of the cost of your system, plus they may help with the labor costs to install it. Reach out today to learn more.