Inflation Reduction Act
If you’re a homeowner in Fullerton, Placentia, La Mirada, CA, or the surrounding areas, you may be interested in taking advantage of the Inflation Reduction Act. This act provides heat pump and AC rebates as well as tax credits to homeowners who make energy-efficient upgrades and purchases. Not only can these upgrades save you money on your monthly energy bills, but they can also reduce your carbon footprint.
While some details such as which HVAC models are eligible for these tax credits and rebates are still being decided by the state and federal governments, we do know that starting in 2023 anyone who meets the eligibility requirements can receive up to $1,200 in tax credits for purchasing certain high-efficiency products. To qualify, you must owe taxes and purchase eligible models of equipment.
The amount you can receive in instant rebates depends on your household income:
- Low-income households (those with an income below 80% of the area’s median income) can receive a maximum of $14,000 when they upgrade their system or up to $8,000 for reducing their energy use.
- Mid-income households (those with an income between 80% and 150% of the area’s median income) can receive an instant rebate for 50% of project costs, up to $14,000 or up to $4,000 for reducing their energy consumption.
- High-income households (those with an income over 150% of the area’s median income) are only eligible for the rebate in which they reduce their energy usage—up to $4,000. See the chart below for further details.
If you’re interested in making energy-efficient upgrades to your home, Jamison Heating & Cooling Services is here to help. We can perform an inspection of your current HVAC system and home, provide you with energy-saving tips, and recommend the right HVAC system for your needs.
Contact our experts to learn more about how we can help you take advantage of the Inflation Reduction Act tax credits, and heat pump and AC rebates in Fullerton, Placentia, La Mirada, CA, or the surrounding areas. And don’t forget to return to this page for more details as they are confirmed.
