The Inflation Reduction Act is a landmark piece of legislation that offers Phoenix homeowners lots of ways to save when remodeling or maintaining their homes. Direct price rebates are some of the most effective options, helping cut costs on the purchase and installation of high-efficiency electric appliances and weatherization updates.
This article takes a look at some how to save money with the Inflation Reduction Act in Phoenix, including:
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High-Efficiency Electric Home Rebates
The Inflation Reduction Act has many rebate programs designed to help low and moderate-income families upgrade their appliances to more energy-efficient versions. The idea is to give families access to lower-cost solutions without breaking the budget with the cost of installation. Some appliances that may be available at a reduced cost include heat pumps for heating and water or electric cooktops.
Heat Pump Installation (HEEHRA)
Under the High-Efficiency Electric Home Rebate Act (HEEHRA) rebate program, homeowners can get a rebate of up to 100% of the cost of a heat pump HVAC unit. The level of the cost reduction is based on the income of the homeowner applying and caps at a total of $8,000 for a heat pump HVAC unit and a total of $14,000 for all covered home improvement projects, regardless of income. The rebate applies to both unit costs and installation, though installers may also qualify for a $500 rebate.
Electric Cooktop Installation
Installing an electric cooktop is a great way to avoid the possible health effects of natural gas exposure and get a new stove. Under this rebate program, Phoenix homeowners can save as much as $840 on the purchase and installation of a new, qualified electric unit. Depending on the stove, the $840 could cover the entire cost.
Weatherization rebates are designed to help low and moderate-income families better insulate their homes. Better insulation means reduced heating and cooling costs. The U.S. Department of Energy's (DOE) Weatherization Assistance Program (WAP) is also available and administered at the state level. Phoenix residents can apply directly. It's grant-funded, which means recipients don't pay for covered services. The Inflation Reduction Act offers rebates for services like home insulation or upgrading doors and windows.
As part of the weatherization assistance program, homeowners get help with insulating attics, basements, or crawlspaces. Contractors may also fill in cracks or address areas that cause drafts. Under the IRA, qualifying homeowners can receive a rebate of up to $1,600 on home insulation services, including air sealing, insulation, and ventilation.
Upgraded Windows and Doors
Several rebates that are currently available can help you save on the cost of upgrading your windows and doors. Phoenix homeowners may also be eligible for new tax credits included in the IRA. The new tax credits offer up to $500 for exterior door upgrades and up to $600 for windows and skylights.
Other Ways to Save Money On Energy Bills
While updating equipment and appliances can be a great way to save on your monthly utility bills, other savings options exist. You'll want to check with George Brazil to see if any rebates are available for duct sealing or HVAC maintenance services.
The Department of Energy estimates that as much as 30% of your conditioned air is lost through leaky ducts, which can dramatically increase your heating and cooling costs. Sealing your ducts is a very economical way to save money on your electric bills. Weatherization assistance programs may offer financial help with duct sealing, so low and moderate-income households should consider an application.
Better-maintained HVAC units perform at higher levels of energy efficiency. A struggling unit works harder, which uses more electricity. Keeping your heater and air conditioner in good repair is a great way to reduce your electrical costs. In addition, if you have a new heat pump installed to take advantage of recent rebates, you'll want to maintain it to ensure warranty coverage. Most warranties require you to perform regular maintenance and keep receipts for proof.
Ready to install a new HVAC system? Call George Brazil!
Contact George Brazil at (602) 842-0009 or online to get your questions answered. We're happy to walk you through the rebate process for heat pump installations and for the chance to demonstrate our 5-star service. If you're ready for reliable cooling and heating, call in the professionals known for excellent service in the Phoenix area backed by a 100% satisfaction guarantee.
Please contact your tax professional for questions about IRA program requirements, eligibility and for more information on the latest updates.