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The Inflation Reduction Act Can Save You
THOUSANDS In Ogden Heat Pump Rebates

Discover The Federal Tax Benefits To Our
Energy-Efficient Heat Pump Installations

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There are many questions regarding the new Inflation Reduction Act and how it affects Ogden homeowners. For our customers, the IRA is a way to receive back thousands of dollars in tax credit rebates when purchasing and installing our energy-efficient heat pumps.

At Absolute Comfort, we advocate for our customers and strive to bring you the best “green” heating and cooling products while helping you save thousands of dollars. And not only will you save on your lower utility bills, but you’ll also save on your installation costs.

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What Is The Inflation Reduction Act?

In August of 2022, the Inflation Reduction Act (IRA) was signed into law in an effort to support clean energy better and take action against climate change. Much of the IRA provides manufacturers incentives to develop clean energy practices and reduce their reliability on fossil fuels.

But in addition to providing funding for energy-efficient heat pump manufacturing, the IRA also gives homeowners tax rebates on the purchase of energy-efficient heat pumps for their homes.

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How Much Will You Save In Tax Rebates?

Until 2032, you can receive a 30% tax credit under the IRA when upgrading to an energy-efficient heat pump. This means you can receive a tax credit up to $2,000. For even more savings, you can also use your tax credit in conjunction with local utility rebates ($2,000 from electrical company and $1,000 from gas company).

However, after 2032, the credit percentage drops off, giving you an incentive to upgrade your heat pump sooner rather than later.

Here’s a breakdown of the heat pump rebates you can expect under the IRA, along with other stipulations:

• 30% of total system cost in 2022 through 2032
• 26% of total system cost in 2033
• 22% of total system cost in 2034
• No credit amount limit
• Credit can be used to offset alternative minimum tax (AMT)
• Credit can be used for multiple years
• Credit can be combined with other IRA tax credits, such as solar and wind credits
• Credit can be combined with other energy efficiency upgrade credits for maximum savings

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Who Is Eligible For The Inflation Reduction Act?

If you purchase a new heat pump that meets Energy Star requirements at the time of installation, you are eligible for the 30% tax credit through 2032. You are also retroactively eligible if your heat pump installation was placed in service on January 1, 2022, or later.

Though your heat pump is considered in service after installation completion, if your system is installed as part of new construction, it’s considered “in service” after you move in.

The structure at which the heat pump is installed must also be located in the United States and used as a residence (primary or non-primary) by the taxpayer. However, rental home installations are NOT considered eligible, along with heat pump installations for solely hot tubs or pools.

To learn more, visit the IRS’s Inflation Reduction Act webpage

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