Inflation Reduction Act
What the Inflation Reduction Act Means for You – Tax Credits and Rebates (IRA)
Is it time for you to upgrade your home’s HVAC system, water heater, and electrical box? Learn about the huge savings on your new equipment and installation costs provided by the Inflation Reduction Act.
TAX CREDITS AVAILABLE January 1, 2023
How Much Can I Save with Tax Credits?
What is the Inflation Reduction Act?
The Inflation Reduction Act was signed into law August 2022 and has allocated over $369 billion to benefit homeowners who make energy efficient upgrades in the form of tax credits and rebates. This new legislation allows homeowners to save more than $14,000 in consumer rebates and tax incentives for families who purchase heat pumps or other energy efficient home appliances. These energy efficient upgrades can save homeowners in Salt Lake City over $600 annually on their energy bills. While rebates are currently unavailable until the end of 2023, tax credits are available now to all customers.
Our home service professionals at Best Home can provide you with expert help and guidance when you are ready for your energy efficient upgrades. Contact Best Home Services or call (239) 420-8265 today to learn more about how you can save money this year through rebates and tax incentives.
25C Energy Efficient Home Improvement Tax Credit
We all love saving money on our taxes and the Inflation Reduction Act has built-in credits for household making energy efficient choices starting January 1st, 2023. The Energy Efficient Home Improvement Tax Credit is an expansion of the 25C tax credit that allows homeowners to deduct up to 30% of the total cost of certain home improvements with a $3200 annual limit. You should keep in mind that upgrades must meet applicable Consortium For Energy Efficiency and Energy Star requirements to be eligible for factoring into your tax credit.
Our home service professionals at Best Home Services can provide you with expert help and guidance when you are ready for your energy efficient upgrades.
Contact us online or call (239) 420-7996 to schedule your free home energy analysis today.