Heat pump tax credit?

Thanks to the Inflation Reduction Act of 2022 (IRA), qualified heat pumps are eligible for a federal heat pump tax credit of up to 30% of the heat pump install cost, or a maximum of $2,000. These tax credits are available until the year 2032. So if you don’t buy an eligible heat pump this year, you won’t lose out on the tax credit. Many local utility companies across the country are also offering rebates for energy-efficient upgrades such as buying an electric heat pump. Use the ENERGY STAR® Rebate Finder to see what heat pump rebates are available in your area. States across the country will start rolling out state-administered Home Energy Rebates in the latter part of 2024. This state rebate program is also part of the IRA effort to help Americans reduce energy consumption and make the transition to clean energy.

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Electrification5min read

What Is the Best Time to Buy a Heat Pump?

We may be biased, but there is never a bad time to buy an air-source heat pump. But some times may be better than others. Learn about some of the best times to buy and install a heat pump system

Published:
August 21, 2024

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