Many homeowners are reluctant to buy a new HVAC system because of cost concerns. What these homeowners don’t realize, though, is that they can save money on this purchase with HVAC rebates.
Keep reading as we discuss HVAC incentives and why investing in an energy-efficient heating or cooling system in 2024 makes sense.
The Inflation Reduction Act Can Help You Save on HVAC Costs
The Inflation Reduction Act directs federal funds into carbon reduction and clean energy programs. More specifically, the IRA includes additional tax credits and other rebates that homeowners can take advantage of when they make upgrades. Whether you’re considering an energy-efficient water heater, furnace, or HVAC system, the IRA makes it more affordable for homeowners.
Which IRA Tax Credits Are Available for Arizona Residents?
There are several options for IRA tax credits, including the following:
- ENERGY STAR® Geothermal Heat Pumps Tax Credit: More Arizona residents are upgrading to geothermal systems. Both new construction and existing homes qualify for this IRA tax credit.
- Energy Efficient Home Improvement Credit: According to the Internal Revenue Service, you may qualify for a more than $3,000 tax credit for home improvements made through 2032. This tax credit applies to heat pumps, boilers, and central AC systems.
- Residential Clean Energy Credit: Are you interested in renewable energy for your home, like geothermal heat pumps? Then, you may qualify for the Residential Clean Energy Credit.
Arizona-Specific HVAC Rebates
You also have access to HVAC rebates created specifically for Arizona homeowners. For example, Arizona Public Service offers various rebates for:
- Ductwork repairs: Arizona homeowners receive a $250 rebate when they repair and seal ductwork.
- Home energy monitors: You can get a $50 rebate when you install a qualifying home energy device.
- Smart thermostats: Install a smart thermostat at your residence and get a $30 rebate.
- AC upgrades: You’ll get a $200 rebate when you replace your air conditioner with a new energy-efficient system.
- Cool control devices: Add a cool control device to your system and get a $70 rebate.
Benefits of Upgrading to an Energy-Efficient HVAC System
Make 2024 the year you opt for an energy-efficient HVAC system. You’ll enjoy the following benefits when you do:
- Lower energy costs: Today’s HVAC systems use significantly less energy to cool and heat your residence. That means lower energy costs month after month and year after year.
- System longevity: A properly maintained HVAC system usually lasts 15 to 20 years. You won’t find that kind of longevity with other home systems or appliances.
- Fewer repairs: Are you tired of recurring HVAC repairs breaking the bank? When you upgrade to a new system, you can forget about constant HVAC problems.
- Greater home comfort: When the air conditioner stops working, it doesn’t take long for your family to be uncomfortable. Play it safe this summer by switching to a new and improved HVAC system.
- Lower carbon footprint: We’re all looking for ways to be more “green” in our day-to-day lives. Replacing your faulty HVAC system with an energy-efficient system is the ideal environmental move.
- Higher resale value: It’s also worth investing in an energy-efficient HVAC system if you think you’ll move at some point in the future. Buyers typically pay more for homes with newer systems and appliances.
Choose Penguin for HVAC Replacements in Phoenix, Arizona
Penguin Air, Plumbing & Electrical provides ultimate home comfort in the Phoenix metro area. With upfront pricing, 24/7 emergency service, and lifetime warranties, we’re your one-stop shop for HVAC, plumbing, and electrical. We even offer the Penguin Plan to ensure peace of mind with your home’s most critical systems.
It’s time to discover the Penguin difference. Call us at (480) 550-9943 now to schedule HVAC replacement services in Phoenix, AZ.