TL/DR –
Households in the United States that install heat pumps with a thermal efficiency rating of at least 75% could receive up to $2,000 in tax credits, with the rebate applied when filing taxes for the year of purchase. The Energy Efficient Home Improvement Credit under the Inflation Reduction Act also offers incentives for updated doors, windows, insulation, water heaters, solar panels, etc., and applies to primary residences but not new builds or landlords. The credit opportunity has no lifetime dollar limit and is available until January 1, 2033.
Enjoy Up to $2,000 in Tax Credits with Energy Efficient Heat Pumps
Installing a heat pump with a thermal efficiency rating of 75% or higher can bring households tax credits up to $2,000, along with substantial energy cost savings. Remember to apply these rebates when filing your 2024 taxes by April 15, 2025. The Inflation Reduction Act and Energy Efficient Home Improvement Credit also offer incentives for other energy-efficient home upgrades like doors, windows, insulation, water heaters, and solar panels.
Who Qualifies for the Energy Efficient Home Improvement Credit?
The credit extends to any existing homes within the United States, granted they are primary residences. Unfortunately, new builds and landlords are excluded. The rebate credit is available until January 1, 2033, with no lifetime dollar limit. This means you can claim the credit yearly for each eligible improvement made.
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