The federal government is giving away thousands of dollars in tax credits to those who upgrade to heat pumps. One HVAC expert shared important tips for making sure you get every penny possible up to $2,000, as reported by WTOL11.
The scoop
Cold winter temperatures have settled into the northwest Ohio area, causing many people to run their natural gas or propane furnaces. While this has been a traditional method for heating homes, the area is seeing an increase in popularity for energy-efficient heat pumps instead.
Despite their names, heat pumps actually provide both heating and cooling. Because they're able to transfer heat from one space to another instead of generating it, they out-perform traditional HVAC units in energy efficiency.
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David Overfield, HVAC specialist and president of Pugh Heating and Air Conditioning, told WTOL11 that heat pump technology has made a lot of progress, making the systems more appropriate for colder climates.
💡Save thousands with a heat pump
A heat pump can save you thousands of dollars in heating and cooling costs — but first you have to find the right installer at the right price.
Use EnergySage's free tool today to find local options, compare prices, and see how much you can save.
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Installation costs for heat pumps are higher than those of furnaces, but tax incentives offered by the Inflation Reduction Act can allow homeowners to get up to $2,000 in tax credits, making a heat pump much more affordable.
"Just because you put a heat pump in does not mean that you are automatically going to get up to a $2,000 tax credit," Overfield told WTOL11. "Whoever is installing your system … make sure they are giving what they call an AHRI certificate that shows that it's highly efficient and matches the criteria the government set forth to make sure you get that tax credit."
In addition to doing research before purchasing a heat pump, it's also crucial to note that the president-elect has threatened to eliminate these subsidies.
Taking advantage of the IRA now could equal thousands of dollars in savings. While it would take an act of Congress to make major changes to the IRA, its future is uncertain with President-elect Donald Trump aiming to repeal the bill.
To find a list of installers in your area, price quotes, and tax incentives, visit EnergySage's Heat Pump Marketplace. After answering a few quick questions, their website will help you find what's right for you.
How it's working
Switching from furnaces powered by dirty fuel to electric heat pumps can decrease energy bills while reducing your home's pollution output.
Other ways to increase your home's energy efficiency and save even more money are weatherizing your house and making it a smart home.
In addition to EnergySage, there are other companies that can help you find the right upgrades for your home. Arcadia offers access to solar solutions, and WattBuy helps you find cleaner, more affordable energy options for your home.
What people are saying
Heat pump technology has advanced significantly, making them a great option for more people.
"High-efficient heat pumps that are out there now use an inverter type compressor, a variable speed compressor, and that type of unit can heat all the way down to 5 degrees outside at 100% capacity. Some of them can get down to -15 degrees outside," Overfield told WTOL11.
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