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Cash In Your Government Rebate With This Better AC Alternative
By BROOKE YOUNGER
Homeowners can take advantage of the 2022 Inflation Reduction Act and the Home Energy Rebates Program by replacing their old AC units with more energy-efficient heat pumps.
These programs offer substantial financial incentives, including up to $2,000 in tax credits for installing heat pumps with a thermal efficiency rating of at least 75%.
For those who decide to purchase a new heat pump in 2024, the rebate will need to be applied when you file this year's taxes by the deadline of April 15, 2025.
The Energy Efficient Home Improvement Credit applies only to existing homes in the United States that serve as primary residences, so new builds and landlords are
not eligible.
This rebate program runs until January 1, 2033, with no lifetime dollar limit, meaning homeowners can claim it every year as long as they keep making
eligible improvements.
For those not looking to install heat pumps, these programs also provide incentives for certain updated doors, windows, insulation, water heaters, solar panels, and more.