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Rebate and Tax Credit
High-Efficiency Electric Home Rebate Act
Looking to Save Big on Your Home Energy Bills? Look No Further Than the Instant Rebate and Tax Credit Programs!
With the Instant Rebate, you can receive up to $8,000 off a qualifying Heat Pump, plus a $2,000 Tax Credit. And that’s not all – if you also need Attic Insulation, you can get up to an additional $1,200 off!
To see if you qualify for these amazing savings, visit www.rewiringamerica.org.
But the savings don’t stop there. If you’re in TNMP or Oncor, you can also take advantage of additional Tax incentives that come directly off the install price. And our experts have all the information you need to make the most of these programs.
When You're Ready to Start Saving Give Us a Call to Schedule a Consultation and Find Out Just How Much Money You Could Save!
As part of the Inflation Reduction Act, this option presents homeowners with a new way to achieve the optimal indoor climate. But it’s not just about keeping your home at the right temperature and air quality. It’s about doing it in a more effective manner.
Now you can create a better indoor climate for yourself and for your loved ones, all while saving money. You’ll even contribute to environmental objectives, and we here at Cold Factor can help you take full advantage of this act and all the perks that come with it.
Understanding the High-Efficiency Electric Home Rebate Act (HEEHRA)
As part of 2022’s Inflation Reduction Act, the HEEHRA is aimed at encouraging homeowners to explore electric options for their residential HVAC and appliance needs.
This effort comes after several years of sustainability innovation in America, and also arrives at a time when more homeowners are looking for energy alternatives and ways to keep costs down. Given the main concern about electrification has historically been the price tag, this act could be a helpful solution.
Through a combination of incentives like rebates and tax credits, you could save money when upgrading to a new electric system. There are also other benefits, including:
- The chance to help the U.S. reduce carbon emissions by 40% before the year 2030
- An opportunity to diversify your appliances and compare how different options work
- A way for low- and middle-income households to enjoy higher-end systems
While the act was aimed at helping those in and around the middle class make the jump to electrified systems, it’s still important to check whether your household qualifies.
| Electrification Project | Maximum Rebates |
|---|---|
| HVAC heat pumps | $8,000 |
| Circuit breaker panel | $4,000 |
| Electrical wiring | $2,500 |
| Heat pump water heaters | $1,750 |
| Weatherization (insulation, air sealing, and ventilation) | $1,600 |
| Electric stoves and cooktops | $840 |
| Heat pump clothes dryers | $840 |
Do You Qualify for the Program?
While this act has many people excited both for the prospect of trying a new energy system and saving money in the process, there are some requirements you must fulfill in order to qualify.
One of the easiest ways to check whether you can participate in the program is to check your status with the U.S. Department of Housing and Urban Development (HUD) based on the income limits in your county. The participation categories are as follows per your area’s average income.
- Low-Income Households: Below 80% of the median family income for your area
- Moderate-Income Households: Between 80%-150% of the median family income for your area
- Multifamily Facilities: Requirements above apply to buildings with at least 50% LMI residents
This act is a prime opportunity for anyone who wants to upgrade to an electrified appliance including an HVAC setup, and save some money in the process. What type of savings could you expect to earn from this program? It depends on the type of electrification project you’re considering.
More Reasons to Explore This Program
Participating in this program is a sure way to save money on energy upgrades, but it’s also a chance to take part in the growth of the clean energy sector.
This could mean more jobs and energy production here in America, which functions as a long-term investment in communities and the country as a whole. There’s also the matter of reducing emissions for a better environment, and improving air quality both in your own home and across the nation.
Remember, every small step a person takes to improve their energy options contributes to the larger picture of a greener tomorrow
How Cold Factor Can Help You With the HEEHRA
When you’re looking to upgrade to HVAC systems that are more energy efficient and comply with the requirements of this program, you need a trusted technician to help you make the switch.
Finding a trusted specialist makes it easier for you to get answers to your questions. However, there are also some decisions you yourself have to make. Thinking about these first will make your conversation with your HVAC installer much easier. Consider questions like:
- “What upgrades do I want to make, and why?”
- “Which features are most important to me in a new system?”
- “How much could I stand to reduce my energy bills by?”
- “Do I want to completely switch my system, or try side-by-side options?”
For some of these questions, it depends on your preference for HVAC equipment. Some people stick with certain brands out of habit or trust, so if these brands offer HEEHRA-compliant systems, you may want go with what you are familiar with.
Other questions, such as the amount of energy and costs you could save monthly, depend on your energy usage and may require an energy audit to determine.
No matter how you choose to progress in your electrification journey, having a trusted partner like us by your side will help. We’ll make the transition smoother, more efficient, as well as more profitable in the long run.
Let Cold Factor Help Install Your New HEEHRA-Compliant System
An opportunity like this to upgrade to a new energy system is something everyone should consider. If you qualify and are interested, this aspect of the Inflation Reduction Act could change your home energy setup and also save you money.
Cold Factor brings a wealth of knowledge in energy systems, including modern options. With our installations, you’ll know everything is set up properly and ready to go. Did we mention we also offer FREE estimates on new equipment?
Our second-generation family-owned business brings 25+ years of experience to the job. As a licensed and insured group of specialists, we’ll be happy to answer all your questions and get your new system going.
To learn more about how we can help you benefit from the HEEHRA and get started with a new electric HVAC setup, contact us today.