Thanks to the Inflation Reduction Act, you can get up to $2,000 from the government to install a brand-new heat pump, which saves you money every month.
People don't usually think about their water heaters very often. It only gets attention when the tap runs cold. Many pay more than they need to in heating bills because of outdated water heating systems that desperately need an upgrade. And there's no better upgrade than a heat pump.
Heat pumps are the most energy-efficient way to heat water. These electric systems cost less to use and don't create as much harmful pollution as regular water heaters. ENERGY STAR estimates that the average family of four can save around $550 annually if they switch to a heat pump. That means lifetime savings of over $5,500.
|
Which factor would most effectively motivate you to recycle your old batteries? Click your choice to see results and speak your mind. |
Getting money back 💰 You should replace your water heater roughly every 10 years. However, the government is giving you a lucrative reason to do it now. One of the most exciting IRA incentives is the tax credit and rebate for upgrading to a heat pump. The government will give you a tax credit for 30% of the project cost, up to $2,000. That's $2,000 less you'll owe when tax season rolls around.
Heat pump water heaters that are ENERGY STAR-certified qualify for the tax credit. Some people may be eligible for a rebate, which means they get the money back sooner and don't have to wait for tax season. Either way, you're saving on installation costs and improving your home. And you'll only continue to save money as you watch your monthly heating bill decrease.
If you're ready to switch, Cala heat pump water heaters are an exceptional option. This company offers highly customizable smart heat pump water heaters that help homeowners drastically decrease their energy bills and environmental impact. These heat pumps also increase comfort at home by heating water exactly when needed.
These incredible incentives may not be available forever, so upgrade soon. As President Trump takes office, it's unclear whether or not the IRA incentives will still be available. If you wait too long, you might not get any credits or rebates.
Michael Rigney, CEO of Cala, explained to The Cool Down that "you can get up to 500% efficiency with a heat pump water heater," making it an obvious choice for homeowners. And there's no better time to get one than right now.
Join our free newsletter for easy tips to save more and waste less, and don't miss this cool list of easy ways to help yourself while helping the planet.
Cool Picks
