Got questions about HVAC upgrades? You could be saving money with your HVAC system purchases. Upgraded equipment will improve efficiency, which will help you save on your energy bills. And your equipment purchases could be eligible for incentives, rebates, and tax credits to help offset the expense of installing that new heating and cooling system in your home.
Read on to get answers on how you can conserve energy, save money, and take advantage of credits and rebates.
Tax Incentives
The Inflation Reduction Act (IRA) is a federal initiative to reduce the U.S. carbon footprint and support clean energy alternatives by providing financial incentives to homeowners. Several aspects of this initiative can help homeowners save money; however, replacing your HVAC system can yield the highest savings.
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Regulations
Hydrofluorocarbon (HFC) refrigerants used in HVAC systems have been shown to have a high global warming potential (GWP), which means they are detrimental to the environment. As a result, Congress passed the American Innovation and Manufacturing (AIM) Act in 2020. These regulations have initiated an “HFC phase-down” process to limit the production and use of greenhouse gases (aka, hydrofluorocarbons) by 85% by 2036.
Learn about AIM Act
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