Kickbacks are typically associated with corporations, but the Inflation Reduction Act is structured with subsidies to help Americans lower their energy bills while simultaneously reducing harmful levels of pollution. It's the U.S. government's biggest investment in the fight against our changing climate. One of the biggest ways homeowners can benefit is by investing in a heat pump.
Heat pumps, ironically, aren't just for heat. Using electricity, they are an energy-efficient way to heat and cool your home. One HVAC system does the job of both. Instead of generating heat, like a furnace, they move heat around from the exterior to the interior or vice versa as needed. During warmer seasons, they do the opposite, removing hot air from the inside and pushing cooler air back into your home.
"You could put in a watt of electricity and get four watts of heat out of it. It's like magic," said David Yuill of the University of Nebraska-Lincoln, according to the New York Times.
🗣️ Which of these factors would most effectively motivate you to buy a heat pump?
🔘 Lower energy bills 💰
🔘 Better temperature control 🌡️
🔘 Helping the planet 🌎
🔘 I'd never buy a heat pump 🚫
🗳️ Click your choice to see results and speak your mind
Heat pumps can regulate the temperature in your home using a fraction of the energy AC units and radiators do. According to Energy.gov, they use only one-third of the energy other home cooling and heating systems require, making it an investment that comes with a lifetime of savings.
Many have been hesitant to transition to a heat pump because of the up-front costs, which can be as much as $8,000. However, the Inflation Reduction Act has made it cheaper and easier than ever to buy and install a heat pump with thousands of dollars in rebates and tax credits readily available.
All homeowners purchasing a heat pump will receive a $2,000 tax credit, and lower-income households may be eligible for up to quadruple that amount. Use the EnergySage Heat Pump Marketplace to find local options and compare prices to see how much you can save.
"We've come to see climate solutions like paper straws as being something worse than what we're used to. But there are some places where everyone benefits, and I think heat pumps are a good example of that," said Alexander Gard-Murray, Ph.D., a political economist at Brown University, per the Times.
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