The Energy Efficient Home Improvement Credit is a fantastic incentive for Northern Virginia residents looking to make their homes more energy-efficient and comfortable. Signed into law through the Inflation Reduction Act, this credit allows homeowners to deduct 30% of the cost of qualified upgrades from their federal taxes. For large, energy-saving HVAC projects and installations, this can translate to significant savings.
Northern Virginia home and business owners seeking reliable and comprehensive HVAC solutions can turn to Oasis Heating, A/C & Refrigeration, Inc. With more than 25 years of experience, our highly trained technicians are knowledgeable, passionate, and dedicated to client satisfaction. Moreover, our repair, installation, and maintenance services keep your home comfortable and energy efficient. Call us today at (703) 339-3877 for more information on our heating and cooling services!
Below, we discuss the perks of energy tax credits and who they apply to:
Benefits of Home Energy Credits
Under the Energy Efficient Home Improvement Credit, if you make an authorized improvement to your home after January 1st, 2023, you may qualify for a tax credit of up to $3,200 annually. Broken down, the maximum credit you can claim each year is $1,200 for energy efficient home improvements and $2,000 for qualified heating and cooling system installation.
However, the benefits of this energy credit extend far beyond saving money on your tax bill. By opting for energy-efficient heating and cooling equipment, you’ll use less energy overall, leading to a decrease in monthly utility bills. In turn, you’ll experience long-term savings and a smaller environmental footprint.
Additionally, energy-efficient upgrades can improve the comfort of your home. Energy-saving home heating equipment is designed to provide consistent and accurate temperature control, making it easier to maintain your desired heating comfort throughout your home. Same with your air conditioning equipment.
Who Can Claim Credits
The good news is that most Virginia homeowners can claim energy-efficient home credits. There are no income restrictions, so you can take advantage of this program as long as you own and occupy the residence where the improvements are made. However, keep in mind that the credit only applies to upgrades placed in service from 2023-2032, and taxpayers must install qualifying energy credit equipment. Eligible heating and cooling systems must have a thermal efficiency rating of 75% and include the following types:
- New electric or natural gas heat pumps
- New electric or natural gas heat pump water heaters
- New biomass stoves and boilers
Hire Us – a Professional Heating and A/C Service Company in Northern Virginia!
Ready to upgrade your home for optimal efficiency? Residents of Northern Virginia can trust Oasis Heating, A/C & Refrigeration, Inc. for all HVAC, air quality, and commercial refrigeration needs. To learn more about our energy-efficient home systems and how you might be able to save money, call (703) 339-3877 today!
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