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Federal Tax Credits for Energy Efficiency

Making energy-efficient upgrades to your home can help you take advantage of major tax incentives, thanks to the Inflation Reduction Act of 2022. You can improve your home’s energy efficiency in several ways to take advantage of these credits, and the Cardinal Heating & Air Conditioning team is here to help!

When Should You Upgrade Your Equipment?

While a tax credit or rebate sounds great, not everyone may need to replace their heating and cooling equipment. Upgrading your system is a good idea if you notice any of the following in your home:

  • Your HVAC equipment is more than 15 years old and has become unreliable
  • There is excessive noise, popping, banging, or rattling coming from your furnace
  • You notice an increase in your heating bill
  • Your home feels cold and uncomfortable


 

Rebates & Federal Tax Credits

If you are in the market for a new, more energy-efficient furnace or heat pump and your household income is between $50,000 and $93,000 annually, you could earn up to $1,350 in rebates or up to $2000 in tax credits.

Available Tax Credits:

  • Up to $2,000 for qualifying electric heat pumps, heat pump water heaters, or boilers. – This is a federal tax credit

Available Rebates:

  • Up to $500 for qualifying Non-gas, propane, or electric HVAC systems
  • Up to $1,750 for qualifying heat pump water heaters
  • Up to $1,350 for qualifying heat pumps

 


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