Save Up to $2,000 on Costs of Upgrading to Heat Pump Technology
These energy-efficient home improvement credits are available for 30% of costs – up to $2,000 – and can be combined with credits up to $1,200 for other qualified upgrades made in one tax year.
Homeowners who install a qualifying HVAC system between January 1, 2023, and December 31, 2032, may be eligible for higher incentives under the expanded Energy Efficient Home Improvement Tax Credit (25C). The program provides a tax credit of up to 30% of installation costs (up to $1,200/year) for qualified products.
As summer approaches, ensuring your HVAC (heating, ventilation, and air conditioning) system is ready can save you from discomfort and unexpected costs. Upgrading might be necessary if your system is showing signs of wear, and with federal tax credits and potential rebates, it could be more affordable than you think. Let’s explore the signs to watch for, the benefits of upgrading, and how to take advantage of financial incentives.
Signs Your HVAC System Is Struggling
Look out for these common issues that might indicate your HVAC system needs attention
- Unusual noises like grinding or banging suggest mechanical problems.
- Inconsistent temperatures, with some rooms too hot or cold, pointing to thermostat or ductwork issues.
- High energy bills without increased usage indicate inefficiency.
- Frequent cycling (short on-off periods), possibly due to a faulty thermostat or clogged filter.
- Poor air quality, such as musty odors, suggests filter or mold problems.
- Leaks or moisture around the unit which could mean refrigerant issues.
- Systems over 10-15 years old are likely less efficient and more prone to failure.
- Reduced airflow from vents, possibly from clogged filters or blocked ducts.
- Thermostat malfunctions leading to uneven temperatures.
- Strange smells, like burning, indicate electrical or mold issues.
If you notice these, a professional inspection can help decide if an upgrade is needed.
Benefits and Financial Incentives
Upgrading to an energy-efficient HVAC system can lower your energy bills, improve comfort with consistent temperatures, and enhance indoor air quality by filtering out pollutants. It may also increase your home’s value. Financially, you can benefit from:
- Greer’s Discount: 2.5% right off the top of the entire bill.
- Federal Tax Credits: Up to $3,200 annually under the Energy Efficient Home Improvement Credit for systems like high-efficiency heat pumps, effective through 2032.
- Local Rebates: Check with your utility provider or state energy office for additional savings, which vary by location.
Next Steps To Take
Contact Greer’s Heating & Air and schedule an appointment to see how we can assist you. We will let you know whether your system can be repaired or if it needs to be replaced. Now is the time to find out while taking advantage of the discount, credit, and rebates.
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