Inflation Reduction act tax credits & rebates
Earn Tax Credits and Rebates with the Inflation Reduction Act (IRA)
Is it time for you to upgrade your home’s HVAC system, water heater, and/or electrical system? Learn about the huge savings on new equipment and installation costs that you may qualify for via the Inflation Reduction Act.
How much can I save with tax credits?
TAX CREDITS AVAILABLE NOW
How Much Can I Save with Tax Credits?
What is the Inflation Reduction Act?
The Inflation Reduction Act (IRA) was signed into law in August of 2022, to benefit homeowners who make energy-efficient home upgrades. The Inflation Reduction Act includes over $369 billion in the form of tax credits and rebates and allows homeowners who purchase heat pumps or other energy-efficient home appliances to save more than $14,000 in consumer rebates and tax incentives. These energy-efficient upgrades can save homeowners in Sarasota over $600 annually on their energy bills. While rebates will be available near the end of 2023 or the beginning of 2024, tax credits are available now to all customers.
Contact Veteran Air or call 941-212-2791 today to learn how to save money this year through rebates and tax incentives.
25C Energy Efficient Home Improvement Tax Credit
The Inflation Reduction Act has built-in credits for households making energy-efficient upgrades. The Energy Efficient Home Improvement Tax Credit—an expansion of the existing 25C tax credit—allows homeowners to deduct up to 30% of the total cost of certain home improvements, up to $3200 each year. NOTE: Home upgrades must meet applicable Consortium For Energy Efficiency and Energy Star requirements to be eligible for the 25C tax credit.
The home service experts at Veteran Air can provide you with expert help and guidance when you are ready for your energy-efficient upgrades. Contact us online or call 941-212-2791 to schedule your free home energy analysis today.
Do I qualify for the 25C Energy Efficient Home Improvement Tax Credit?
Yes, everyone is eligible for the 25C tax credit. There are no income qualifications for tax credits. Anyone with adequate tax liability to offset can qualify.
Does 25C have efficiency requirements?
Yes, 25C upgrades must meet the Consortium for Energy Efficiency’s highest non-advanced tier and Energy Star requirements. Our professionals at Veteran Air can help you select the right upgrades to qualify for the 25C tax credit.
How do I claim my tax credits?
Our team at Veteran Air will take the headache and hard work away and provide you with all the proper documentation to easily claim your home upgrade tax credits when you file your taxes.
Let Veteran Air help you get the most out of your tax credits. Contact us today or call 941-212-2791 for assistance.
What’s To Come With Rebates
High-Efficiency Electric Home Rebate (HEEHRA)
The High-Efficiency Electric Home Rebate program provides point-of-sale discounts to low- and middle-income homeowners, allowing them to save up to $14,000 on energy-efficient home upgrades. The program covers 100% of electrification costs for low-income households and 50% of costs for moderate-income households, including the cost of the equipment and labor for professional installation. Households that fall below 150% of the area median income are eligible for the HEEHRA program.
Whole Home Energy Reduction Rebate Program (HOMES)
The Homeowners Managing Energy Savings (HOMES) rebate program was designed to encourage homeowners to save energy, and the amount of the rebate is based on how much energy your home improvement will save—anywhere from $2000 to $8000 if you cut your energy use by 20% to 35% or more. For low- to middle-income households, the rebate program offers $4000-$8000 or 80% of project costs. Families in higher-income households can receive rebates of $2000-$4000 or 50% of project costs. The more energy you save, the bigger the rebate. Everyone qualifies for the HOMES rebate program; however, low- and middle-income households can earn more cash back.
Are rebates available now?
The HEEHRA and HOMES rebates are not available right now, but rebate programs will start sometime at the end of 2023 or the beginning of 2024 through your State Energy Offices. The timing of these depends on your state of residence and the Department of Energy guidance, so be sure to check with Veteran Air to see if rebates are available when you’re ready to purchase.
Tax Credits and Rebates—what’s the difference?
Tax credits will be given back to customers when they file their taxes. You can earn up to $3200 in tax credits with the 25C tax credit every year.
Rebates are off-the-top discounts at the point of sale and will provide customers with upfront savings. Rebates will not be available until the end of 2023 or the beginning of 2024. Contact Veteran Air to stay updated on the latest news on when rebates will be available in Sarasota.
How do I save on my home upgrades today?
Take advantage of the 25C Energy Efficient Home Improvement tax credit and ask our professionals at Veteran Air how you can maximize savings with qualified energy-efficient upgrades. The Veteran Air team is ready to help you every step of the way.
