Here’s How To Get Paid To Upgrade Your Home

Electric heat pumps can benefit from 30% of the costs, up to $2,000, via 25 C. The total cost of a heat pump system can vary from approximately $1,500 to more than $10,000.

According to Angi, the average American homeowner spends around $6,000 to install a heat pump. If yours costs $6,000, that means you’ll save $1,800 and still have $1,200 left over in incentives for another project in the same year, such as a heat pump water heater. Through the Home Electrification Rebate Program, if you qualify as an LMI household, you can get a rebate of up to $8,000.

Additionally, non-heat pump HVAC units that meet or exceed the highest efficiency level established by the Energy Efficiency Consortium (EEC) are also eligible for the 30% tax credit, up to $600. .

Thanks to 25D, you can benefit from a tax credit of 30% for the equipment and the installation of a geothermal heat pump. According to Angi, the average cost for one is around $14,000, which means you’ll save $4,200. There is no cap on this incentive.