In an effort to advance clean energy, the new Inflation Reduction Act (IRA) is providing incentives to help you purchase energy-efficient solutions.
What does this mean?
According to ACHR News (Air Conditioning, Heating and Refrigeration): IRA offers a 30% tax credit when you purchase a qualifying water heater or HVAC system. This means that 30% of the cost is subtracted from your tax liability with an annual limit of $1,200 and up to $600 for qualified HVAC equipment. You can also get a credit of up to $150 for a qualified home energy audit.
So, what should you upgrade? Start with what affects your energy bills the most: HVAC systems and water heaters. HVAC systems account for 30-40% of your energy bill, while water heaters account for roughly 20%. Switching to an energy-efficient HVAC decreases usage costs by up to 40%.
“Shafer Services Plus is dedicated to helping residents battle rising energy costs while also prioritizing the environment,” shared Shafer Services Plus president, Alison Lange. “The Shafer family has served San Antonio for generations and we’ll be here for generations to come. That’s why we believe in doing everything possible to protect the environment for our customers today and tomorrow. This means using quality, energy-efficient products that last.”
Call Shafer today to see how a new energy-efficient HVAC system or water heater can help you.
When you combine the IRA tax credit and energy savings with $500 off a new HVAC system from Shafer Services Plus—there’s never been a better time to invest in energy efficiency.
Usage statistics and savings from the US Department of Energy.
This article does not constitute tax advice. Consult your CPA to see how the Inflation Reduction Act impacts your purchase (or potential purchase).