Tax Incentives to Help Build the Clean Energy Economy

Homeowners are Eligible for Up to $10,000 in Tax Credits and Rebates.*

*Depending on Area Median Income

DOWNLOAD OUR PDF FILE

Slash the Carbon Footprint in Half by 2032

The majority of American homes still utilize fossil fuels, specifically natural gas, to power their appliances. The goal is to get more appliances reliant on the electrical grid, which over time will become more reliant on clean and renewable energy sources.
Congress has taken the most significant action on clean energy and climate change in the nation's history with the Inflation Reduction Act.

Financing helps increase your closing rate

The Inflation Reduction Act

$370 billion investment
Customers who purchase a heat pump system can take a tax credit of up to 30% of the cost of the unit, capped at $2,000.
The credit refreshes every year and the credit(s) can be applied until 2032.

High Efficiency Homes and Rebates Act (HEEHRA)

Part of the Inflation Reduction Act. Rebates will be managed by the state energy offices and administration of the rebates are still TBD.
Households making less than 150% of the Area Median Income (AMI) qualify for the HEEHRA tax rebate. This rebate is applied when the customer purchases the heat pump.
The maximum rebate for an HVAC heat pump is $8,000.
Households making less than 80% of AMI can use the rebate from HEEHRA to cover up to 100% of the cost of equipment and installation.
Households between 80-150% of AMI can use the rebate from HEEHRA to cover up to 50% of the cost of equipment and installation. These households can still utilize the entire $1,750 as stated above, that amount just has to be only 50% or less of the total cost of installation.

Aggregate Breakdown

Listed is the simplified version for the maximum savings that a customer can have for both HVAC heat pump systems and heat pump water heaters per AMI category via both of these energy efficiency incentives. State and local credits and rules for HEEHRA will vary and this list is only for simplification. The most important thing to know is that if a customer qualifies for HEEHRA, both of these incentives stack.