As heat pump adoption grows rapidly amid rising electricity costs and greater efficiency demands, a new report by a coalition of state air agencies will make the transition even easier for homeowners.
As Canary Media reported, the interagency nonprofit Northeast States for Coordinated Air Use Management released a multistate action plan containing 50 strategies to accelerate heat pump deployment.
Since heat pumps are around 200%-400% more efficient than high-efficiency gas furnaces and three to five times more efficient than gas boilers, they will keep you warm while significantly reducing your electricity bills. Plus, they can also replace air conditioners so that you won't need two separate systems. Reliable brands like Mitsubishi make it easy to find the right installer and heat pump for your needs, such as an affordable mini-split system.
Through the Inflation Reduction Act, homeowners can claim a 30% tax credit (up to $2,000) on the project cost for qualified air-source heat pumps purchased and installed by Dec. 31. Ensure installations are completed by then, as the tax credit will expire. However, some households may still qualify for federal rebate programs even after the deadline has passed.
Seeking to reduce pollution from residential fossil-fuel-powered heating systems, nine states — including California, Colorado, and New York — signed a memorandum of understanding to signify their commitment to a healthy environment, with a focus on encouraging residents to switch to heat pumps.
As states work together toward zero-pollution residential buildings, they will need to double the heat pump market share over the next five years, and NESCAUM has provided some key tips to make that possible.
Some of these include launching programs and financial incentives to make heat pumps more affordable to lower-income and renter households, updating building codes to mandate high energy-efficiency standards, and adjusting electricity rates to "incentivize zero-emissions heating," as Canary Media explained.
For the average homeowner, heating costs can account for 35% to 50% of their annual electricity bills, making them the largest energy expense for most people. Upgrading your HVAC system to a heat pump is one of the easiest ways to save money on energy bills, with the Department of Energy reporting annual savings of between $300 and $1,500, depending on the climate you live in.
Find the best HVAC solution to heat and cool your home more efficiently Mitsubishi Electric’s efficient heating and cooling HVAC solutions can help you stay comfortable no matter the weather or region. You can even regulate temperatures in each room with individually controlled all-electric heat pump systems. With an energy-efficient, all-climate system from Mitsubishi, you can reduce the amount of energy needed to heat and cool your home, receive up to $2,000 in tax credits, and get peace of mind knowing you’re choosing rigorously tested, high-quality products. |
It can be challenging to find a qualified installer, but Mitsubishi can help you connect with trained professionals in your area through its trusted network and find an efficient system at a competitive price.
Emily Levin, policy and program director for NESCAUM, told Canary Media that each state will need to choose the best approach to ramp up heat pump adoption, but that one tactic would likely have the biggest impact.
"I see [heat-pump electricity] rates as one of the areas that's most promising," Levin said. "You're not raising costs on anybody; you're only reducing costs."
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