Investing in a heating and cooling system is a significant step toward enhancing comfort, safety, health, and peace of mind for you and your loved ones. While heat pumps offer extensive benefits and long-term savings, the upfront cost can be daunting for some. Fortunately, with the arrival of the new year, there are opportunities for savings for those embracing eco-friendly heat pump technology in their homes or businesses. Due to the impressive reduction in fossil fuel emissions achieved by heat pumps, both governments and HVAC manufacturers are offering rebates and incentives to help make heat pumps accessible for everyone. By taking advantage of these offers, you can enjoy substantial savings- you may even qualify for a free heat pump here in Massachusetts!
In this blog, we will discuss three current offers available. Please note, these offers do change year to year and to get current specifics on rebates it is important to check with your HVAC specialist. Presently, we have new rebates and tax credits from the federal government, rebates from the Massachusetts government and manufacturer rebates provided by Carrier.
Federal Rebates and Tax Credits
- The Inflation Reduction Act’s Energy Efficient Home Improvement Tax Credit supplements costs by providing $2,000 to homeowners toward qualified heat pumps. The primary requirement is that the heat pump has a thermal efficiency rating of at least 75%.
- Tax Section 25D is a tax credit for homeowners equal to 30% of installation costs for an ENERGY STAR® geothermal heat pump.
- The High-Efficiency Electric Home Rebate Program provides rebates for up to $8,000 for all-electric heat pumps; total savings is dependent on income.
Massachusetts Deals
Rebates and loans are available to homeowners of all income levels through MassSave and the Massachusetts Department of Energy Resources.
- Homeowners can save between $10,000 to $16,000 on heat pumps through MassSave. For those with a lower income, you may be able to have the entire system subsidized.
- Massachusetts DOER loans offer 0% financing opportunities of up to $50,000.
Carrier Rebate
- COMING SOON: Carrier will restart their spring CoolCash program with a savings estimate of $2,975!
Navigating rebates and incentives can feel overwhelming but we are here to help you. By finding the best heating and cooling system for your home and utilizing the rebates in place can help you save energy and money.
If your question isn’t answered here, contact the Pierce Refrigeration team, and one of our experts will guide you in finding the right solution for you.
Need 24-7 emergency service? Looking for advice on improving your everyday air quality and comfort at home and work? Contact the friendly staff at Pierce Refrigeration at 800-696-1088 or info@piercerefrig.com.