Am I eligible for a free heat pump in Charlotte?

Am I eligible for a free heat pump in Charlotte?

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The Inflation Reduction Act of 2022 (IRA) offers free or significantly discounted heat pumps to homeowners across the U.S. If you live in Charlotte, you qualify for the following rebates or tax credits toward the purchase of a new heat pump:

Annual household income Discount Value
$73,360 or less 100% Up to $8,000
$73,360-137,550 80% Up to $8,000
$137,551 or more 30% tax credit Up to $2,000

How to get a free heat pump in Charlotte

The IRA heat pump rebates have not yet begun. The Department of Energy (DOE) announced in November 2022 that it will issue funding and guidelines to the states in spring 2023. 

When the program begins, the rebates will occur at the state level. That means each state may have a different process for securing a rebate.

One thing is for sure; the rebates are “point of sale,” so the rebate amount is automatically deducted from the price of the heat pump when you buy it. You won’t have to pay upfront and submit for a refund.

Get a quote for a new heat pump.

How to get a heat pump credit in Charlotte

If you have a household income of more than $137,550 in Charlotte, you won’t get a heat pump rebate. However, you are eligible for a 30% tax credit.

Though the DOE hasn’t yet issued the guidelines, tax credits usually involve saving the receipt. You can apply for your heat pump credit when you complete your annual taxes.

Are heat pumps good for Charlotte weather?

Heat pumps are ideal for Charlotte weather conditions. In fact, the Carolinas have more residential heat pump installations than any other states. About 40% of homes in the region rely on heat pumps for heating and cooling.

Heat pumps are best in climates with moderate winters. Since Charlotte’s weather rarely drops below freezing for an extended period, heat pumps provide plenty of warming power.

Additionally, heat pumps do a better job of removing humidity from your home than other cooling appliances. Any Charlotte resident knows this is a major plus in the balmy summer months!

Hook me up with a new heat pump!

What are the benefits of using a heat pump?

Aside from the big savings thanks to the IRA, heat pumps offer a number of benefits compared to traditional split central AC and heating systems. 

🌎 Energy efficiency Heat pumps run more efficiently and use electricity, which is important as we move towards decarbonization
🍃 Better air quality Heat pumps have air filtering capabilities.
☁️ Less humidity Heat pumps do a better job of removing indoor humidity.
💵 Lower utility bills You’ll see a reduction in your monthly bills, since heat pumps use less energy to run.
📏 Space savings A heat pump is an AC condenser and a heater. So, you won’t have to make room for two large appliances.
👂 Less noise Heat pumps run quieter than traditional heaters and ACs.
🦺 Improved safety Heat pumps aren’t prone to gas leaks or other dangers associated with some heaters.

Duke Energy offers lesser incentives for energy-efficient HVAC equipment if you can’t wait until spring 2023 to purchase a new heat pump. 

When you’re ready to talk to an installer about buying a new heat pump, check out our list of preferred HVAC technicians in Charlotte

This post appeared first on HVAC.com

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