With the arrival of 2023, federal income tax credits for energy efficient home improvements started and will be available through 2032. Under the 2022 Inflation Reduction Act, a wide selection of ENERGY STAR certified equipment is eligible for the tax credits. These available credits will help cut thousands of dollars off the price tag of major home improvement projects over the next 10 years for homeowners in Arizona and around the country.
Details on the HEEHRP
High-efficiency Electric Home Rebate Program (HEEHRP) is a program the U.S. government has signed into law to help homeowners save on HVAC costs. The federal government has appropriated $4.5 billion in funds for the program and will distribute them to state energy offices with the specific dates still to be determined.
HEEHRP offers HVAC rebates of up to $14,000 per household, including:
- Up to $1,600 for home insulation and sealing.
- Up to $2,500 for home electrical wiring improvements.
- Up to $4,000 for electrical panel upgrades.
- Up to $8,000 for Energy-Star qualified heat pumps.
The HEEHRP rebate amount and eligibility depend on a homeowner’s household income:
- For households below 80 percent of the area median income, 100 percent of the system purchase price are eligible for the rebate with specific limits for certain types of appliances.
- For households within 80 percent to 150 percent of area median income, 50 percent of the system purchase is eligible for the rebate.
- Households above 150 percent of area median income are not eligible for the rebate.
HEEHRP Rebate Perks
Some of the advantages of the HEEHRP program will be:
- Reduction in carbon emissions.
- Decreased energy bills.
- Improved air quality.
Cool Blew Are Your Local Experts
Installing more energy-efficient HVAC systems will not only help you qualify for the federal HVAC tax credit but also reduce your electricity consumption. As a result, you’ll save more money in the long run. So, whether you’ve upgraded your HVAC system, or plan to do it, ensure you take advantage of the HVAC federal tax credit to save money.
For answers to your questions or to schedule a service call, call your local experts at Cool Blew. Our heating and cooling professionals are here for you 24/7 including weekends and holidays. Call us today at 623-872-2900 to schedule your appointment.