Who doesn’t like free money? Did you know that you could be entitled to up to $8000 in rebates thanks to a new bill that was passed recently by Congress? It’s called the Inflation Reduction Act and it’s been put in place to tackle the climate crisis and help to bolster energy security across the U.S. From lower energy costs for homes and businesses to delivering a clean and healthy future for generations to come. the act covers a lot of ground. Homeowners looking to upgrade their HVAC equipment to energy-efficient models could be entitled to thousands of dollars in rebates. Let’s take a closer look at the act and how you could make money just by improving your comfort.
What is the Inflation Reduction Act?
The Inflation Reduction Act is the country’s biggest investment in climate change in U.S. history and will invest more than $360 billion in climate and energy programs. This investment includes cash incentives and tax credits to consumers who buy an electric vehicle and homeowners who transition to renewable and energy-efficient systems, such as heat pumps. From a climate perspective, the bill has been put in place to reduce carbon emissions by almost 40% by 2030. If you’re considering upgrading your HVAC system to a heat pump, you could be entitled to one of the heat pump rebates that is on offer.
How Can I Get a Rebate?
Choosing more energy-efficient systems could save homeowners hundreds of dollars a year in energy savings alone. Add to that the rebates and tax incentives offered through the new bill and you’ve got yourself quite a big reason to make energy-focused home improvements. From energy-efficient doors and windows to water heaters and heat pumps, you could get rebates for efficiency improvements of up to $14,000 per household. In turn, these energy improvements could save you between $500 and $1,000 a year. And those savings are ongoing for as long as you make use of those energy improvements. On top of that, you’ll be contributing to reducing the country’s climate-warming greenhouse gas emissions.
What Are Heat Pumps?
Across America, buildings are cumulatively responsible for around 40% of the entire country’s energy consumption. Heating is the biggest culprit. To save money and protect the environment, more and more homeowners are switching from conventional AC systems and furnaces to heat pumps. Replacing your HVAC system with a heat pump is one of the best upgrades you can make for the home.
Energy-efficient electric heat pumps offer heating and cooling in one. These versatile systems capture heat from outside of the home and distribute it to every room. While they use electricity to run the workings of the system, the heat energy they use to warm your home is all delivered from outside. It’s one of the best renewable energy systems you can install. Because the heat pump captures heat that is already present in the air outside, it doesn’t burn any additional fuel and emits zero carbon dioxide. Cooling is achieved by moving warm air inside the home outside.
When it comes to efficiency, heat pumps are at the top of the class compared to other heating and cooling systems. While the pumps and compressor need power to work, they use less energy than the heat they move from outside the home to inside.
What Are the Benefits of Heat Pumps?
Heat pumps offer a multitude of benefits for homeowners, including:
Heating and Cooling in One
Heat pumps provide heating and cooling at the touch of a button. When installed in the correct manner and to the right specification, they provide you with complete control over your room temperature. They are also very quick to heat or cool your space and sustain the desired temperature very well. If you’re considering upgrading your AC or furnace any time soon, upgrading to a heat pump could be the best choice for you.
Very High Efficiency Ratings
When it comes to heating your home, heat pumps are the most efficient forms of heating that uses electricity. They offer an average COP (Coefficient of Performance) figure of 2.5. That means that in order to generate 2.5 kilowatts of heating or cooling power, they need an average of less than one kilowatt of electricity. Let’s put that into perspective. A gas boiler or electric fire achieves a COP of less than 1.0. That means that one kilowatt of power is required to achieve one kilowatt of heating power. To put that even plainer, a heat pump can be up to 400% efficient and one of the cheapest ways to cool and heat your home.
Make Some Great Savings
Heat pumps can bring you some impressive energy savings. While their initial outlay may be a little daunting at first, the savings you can make over the years more than make up for it. Plus, we offer on-approval finance that allows you to spread the cost of your heat pump. It’s a good idea to work out how long you plan to stay in your home. If you plan to stay for many years, a heat pump is a worthwhile investment for your comfort.
Improve Your Air Quality
Because heat pumps don’t burn fuel to create heat, they don’t pump out any fumes or smoke into the air. In fact, as your heat pump distributes warm or cool air throughout your home, the filters purify and clean the air removing odors, dust, pollen, and other particles. This makes them a great choice for people who suffer from allergies or asthma.
How Much Could I Get For Installing a Heat Pump?
At the time of writing, the Inflation Reduction Act offers homeowners a 30% tax credit of up to $2,000 for anybody who buys and installs a heat pump. Low and moderate-income households with earnings that are less then 150% of the local median income could be entitled to heat pump rebates of up to $8,000. Some wood burning stoves are also eligible for the rebates.
Arrange Heat Pump Installation Today
If you’d like to take advantage of the benefits that heat pumps have to offer and the tax credits that you could be eligible for, speak to us today. At Lyerla Heating & Air, we offer expert advice and installation that will ensure you get the best from your new system. We can also work out how much you might be entitled to by installing an efficient heat pump. Once your new heat pump is installed, you can go on enjoying the comfort and cost savings that these super-efficient systems bring.
Call our team today to arrange an appointment with our HVAC experts. We’ll recommend the perfect system to suit your home and heating and cooling needs.