2024 Tax Credits and Rebates for New HVAC Equipment

As we navigate the ever-evolving landscape of environmental consciousness and energy efficiency, Utah homeowners find themselves at the forefront of a movement towards sustainable living.

Our team at Just Right Heating & Cooling wants to make sure you are aware of the many federal HVAC tax credits and rebates available today when you choose to upgrade your heating and cooling systems or make other energy-efficient choices.

Why Buy Energy-Efficient Heating and Cooling Equipment?

Utah’s weather includes a mix of cold winters and hot summers, placing a significant demand on HVAC systems.

Upgrading to energy-efficient equipment not only enhances your family’s comfort but also reduces energy consumption, lowering utility bills and decreasing the overall environmental impact.

Federal Tax Credits for Energy-Efficient HVAC Systems

The Inflation Reduction Act (IRA), adopted by Congress in 2022, offers money-saving incentives to encourage energy-saving practices by providing tax credits for qualified HVAC equipment installations.

For example, Salt Lake City households can claim a federal tax credit under Section 25C up to $2,000 on the cost of buying and installing an air-source heat pump. Federal incentives are also available for any electrical system upgrades.

You may also qualify for a $600 tax credit under Section 25C to replace your furnace or AC unit. Consult with your tax professional to take advantage of these incentives.

Credits for Other Energy-Efficient Improvements

In addition to product purchases, the Inflation Reduction Act provides many incentives for a wide range of energy-efficient improvements that Utah homeowners may want to consider.

Families can claim up to $1,200 in credit for installing insulation or efficient windows and doors.

Altogether, Salt Lake City homeowners may qualify for a total tax credit of up to $3,200 each year under the Energy Efficient Home Improvement Tax Credit to upgrade your home’s comfort and energy use.

Federal Rebate Programs

In addition to tax credits, the Inflation Reduction Act will be rolling out energy-saving rebates in 2024 for low- and moderate-income households.

These rebates cover up to 100 percent of the costs of installing heat pumps and other electric appliances. But unlike the tax credits, you must meet specific income guidelines to qualify for the rebates.

The Importance of Professional Installation

While tax credits and rebates offer financial incentives, it’s crucial to prioritize proper installation by certified HVAC professionals like Just Right Heating & Cooling. A well-installed system not only ensures optimal energy efficiency but also extends the lifespan of the equipment, providing long-term benefits for both the homeowner and the environment.

Reach Out Today

Contact Just Right Heating & Cooling today if you’re ready to take advantage of these HVAC tax credits and rebates, Homeowners in Salt Lake City, UT, have a golden opportunity to make energy-efficient choices with their heating and cooling options. Call us at (801) 889-2877 or request service online today to discuss how we can help.