With winter temperatures creeping across the country, there's an incredible opportunity to save hundreds of dollars on your energy bills with an eco-friendly appliance.
The Inflation Reduction Act is offering subsidies for homeowners to switch to heat pumps for their heating and cooling needs. While the name can be misleading, heat pumps work by moving heat around your home, from the exterior to the interior or vice versa.
Heat pumps do require an upfront investment of $4,000 to $8,000, but the IRA offers up to $2,000 in tax credits. And if you're from a low-income home, an $8,000 rebate is available.
Switching to a heat pump for your home has ongoing financial advantages, too. The Department of Energy reports that you can save up to $500 on your bills, depending on your state, thanks to a heat pump's efficiency, as it requires less energy to run and thus reduces energy consumption.
💡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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It's also a cleaner option for your home and the environment. As EnergyStar notes, there's no combustion involved like with a traditional HVAC unit, which means there's no pollution in your house from gases such as nitrogen oxides, carbon dioxide, or carbon monoxide. That also means they won't end up in the atmosphere, where they can contribute to the rising global temperature.
If you're interested in making the switch to a heat pump, check out EnergySage's heat pump marketplace. EnergySage has earned grants from the government to help Americans find energy-saving upgrades and helps you compare deals in your area as well as navigate the rebates and incentives to get the most for your dollar and more than a few dollars back in your wallet.
It is important to note that if you are interested in taking advantage of the tax incentives and rebates offered by the IRA, you may want to act sooner than later. President-elect Donald Trump has said he hopes to "rescind all unspent funds" allocated for the IRA, making their future availability unclear.
Fans of heat pumps are happy to share their virtues across social media. In the r/heatpumps subreddit, someone asked if the appliance was worth it, and the comments flooded in.
"It is not just the energy savings, it is a comfort issue," a homeowner relayed. "They are very quiet and temperature stable with the benefit of AC in the summer."
🗣️ 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
Another shared: "We are extremely happy with our heat pumps. They are efficient, very quiet, and save us money."
"I do expect there is strong potential for an ROI, but I'm not sure yet," someone else wrote. "For now, buying a heatpump was a no-brainer anyway due to federal grants."
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