HVAC Rebates and Incentives Available in 2024

Upgrading to efficient HVAC equipment has become more affordable through various incentive programs. Understanding available rebates helps maximize your investment.

Federal Tax Credits

The Inflation Reduction Act extended and expanded energy efficiency tax credits:

**Heat Pumps**: Up to $2,000 tax credit for qualifying heat pump systems meeting efficiency requirements.

**Central Air Conditioning**: Up to $600 for high-efficiency units meeting SEER2 requirements.

**Furnaces**: Up to $600 for qualifying high-efficiency gas furnaces.

**Additional Equipment**: Credits available for smart thermostats and other efficiency improvements.

These are tax credits, not deductions—they directly reduce tax owed dollar-for-dollar.

Utility Company Rebates

Local utilities often offer additional incentives:

• Rebates for high-efficiency equipment
• HVAC tune-up discounts
• Smart thermostat incentives
• Time-of-use rate programs

Check with your specific utility provider for current offerings. Programs change periodically.

Manufacturer Rebates

Equipment manufacturers periodically offer rebates on new installations. These combine with other incentives for additional savings.

How to Claim Credits

**Keep Documentation**: Retain receipts, manufacturer certifications, and contractor invoices.

**File Properly**: Use IRS Form 5695 for residential energy credits.

**Meet Requirements**: Equipment must meet specific efficiency thresholds. We ensure qualifying equipment is specified.

Maximizing Savings

Strategic timing maximizes incentives:

• Coordinate installation with available utility rebates
• Consider heat pump technology for larger federal credits
• Combine multiple upgrades for maximum benefit

We Help Navigate Incentives

Understanding available programs is part of our service. We:

• Identify applicable incentives for your project
• Specify qualifying equipment
• Provide necessary documentation
• Explain credit requirements

The combination of federal credits, utility rebates, and manufacturer promotions can reduce project costs by $2,000-4,000 or more on qualifying installations.

Planning an upgrade? Let us help maximize your available incentives.