The Inflation Reduction Act might sound like old news at this point, but homeowners are still experiencing huge benefits from this legislation on a regular basis. This new set of efficiency standards and programs is here to stay, at least for the next decade, so we’ve got some details on what it is and how it can help you.
Whether you’re a homeowner who’s dealing with a faulty or failing furnace that requires replacement, or you’re a young renter who’s looking for ways you and your landlord can partner up and make things more efficient, the IRA will help tremendously with budgeting, taxes, and more.
Before we get into the juicy details, we’d like to remind our customers that you’ll still need a professional team of licensed contractors for any work that’s required. Feel free to call us for heat pump installation and schedule an appointment once you’re more comfortable with the legislation and how this all works.
SEER2 Program Updates
Initially, one of the main things that the IRA sets out to accomplish is the complete overhaul and update of the SEER system. SEER stands for seasonal energy efficiency ratio and it’s a metric we use to figure out how energy efficient an air conditioning system is. The ratio is complicated but the gist of it is that the higher the SEER rating, the more efficient your air conditioner is. Simple, right?
Well, as systems undergo drastic changes and get more efficient, the old way of measuring efficiency just wasn’t helpful anymore. Thus, the rollout of the SEER2 program, which basically gave the HVAC industry new guidelines on how to determine if a system is energy efficient.
A heat pump from 15 years ago might not be as efficient compared to modern standards, and that’s a big deal. Technology has come a long way and due to refrigerant materials and industry changes, systems are a lot more efficient and powerful than they used to be. Use the new SEER2 rating system in order to purchase the right new heat pump or air conditioning unit for your home.
Catchy name, right? The full name of the HOMES program is the Home Energy Performance-Based Whole House Rebates Program, but that’s quite the mouthful.
Simply put–the HOMES program seeks to give customers who are more efficiency-conscious a break, with rebates of up to $8,000 for customers who cut their energy use by at least 35%. If you’ve gotten your family to cut back on their energy consumption by either upgrading appliances or using less energy, then you might qualify for one or many of the incentives included in the HOMES program.
For low-moderate income households, it’s not nearly as easy to invest in a high-efficiency electrical HVAC system like a heat pump. These purchases often require a financing plan that can lead to payments over the years. But with the HEEHRA Electrification incentive, things just got a lot easier.
This program can cover from 50-100% of the cost of an energy efficient upgrade, depending on what it is and the income of the applicant. Trust us when we say that this can be a huge amount!
Work With Us to Find Out More
These aren’t the only programs offered in the Inflation Reduction Act. Work with our team of experts to find out which programs you might qualify for, and how to get the most out of them.