Savings available through the Inflation Reduction Act
Heat pumps offer a wide variety of benefits for Raleigh, North Carolina homeowners and are becoming a more popular choice with new government tax benefits available.
The Federal Govt’s Inflation Reduction Act (IRA) has extended tax credits and introduced cash rebates to North Carolina area homeowners who upgrade their home comfort equipment to more energy efficiency models. As part of the IRA, the newly revised 25C Federal Tax Credit for Residential Energy Property becomes effective for work completed beginning January 1st, 2023.
The biggest savings can be found in heat pumps – you could be eligible for up to $8,000 in rebates alone. And you could also receive up to $1,750 in rebates for installing a heat pump water heater.
There are also added incentive of tax credits. Qualifying heat pump upgrades include the following:
- Heat Pumps: All household income levels will receive 30% of the installation costs up to $2,000.
- Heat Pump Water Heater: All household income levels will receive 30% of the installation costs up to $2,000.
Check out this information from the State of North Carolina to see how much you could quality for in rebates. Rebates and tax credits are income-based and fluctuate depending on household median income. As always, be sure to discuss with your personal tax consultant before committing to any major changes in your home. Check out this information from the State of North Carolina to see how much you could qualify in rebates. And click here to learn about ENERGY STAR products that are independently certified to save energy
Contact a Streamline Services expert come out to your home, assess your situation, walk you through your options, and provide you with a free cost estimate.