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Homeowner questions financial logic of upgrading to popular HVAC tech after tax credits disappear: 'I'm wondering if now is a bad time'

"The cost of electricity is slowly creeping up."

Upgrading your heating and cooling system is one of the best ways to lower your energy bills while reducing your environmental footprint.

Photo Credit: iStock

Upgrading your old HVAC system can feel like a big undertaking. One homeowner reached out to Reddit's "r/heatpumps" forum for advice on whether to make the switch.

According to the original poster, their home has a 20-year-old gas furnace and nine-year-old gas water heater. While the OP is looking to replace their gas furnace with a ducted heat pump, they wondered if they should wait before making the upgrade.

"But I'm wondering if now is a bad time, given that I missed out on the IRA tax credit, and the cost of electricity is slowly creeping up," the OP wrote.

Redditors encouraged the OP to do more research and explore additional ways to save money when upgrading to a heat pump. "Find out your utility's rebate programs," one user suggested. "CO had great state and utility rebates."


"Start getting quotes and meeting with companies," another Redditor added. "You'll get a better idea of what your options are and what pricing might look like from getting quotes." 

Mitsubishi is a great place to start when exploring different HVAC options. It can help you find a heat pump and installer within your budget, so you can reduce your energy bills with a new, energy-efficient HVAC system.

Smart upgrades that slash monthly bills

Upgrading your heating and cooling system is one of the best ways to lower your energy bills and reduce your environmental footprint. Heat pumps are three to five times more efficient than traditional gas boilers, optimizing your home's energy use.

Mitsubishi can help you find efficient heating and cooling solutions for your home and connect you with trusted installers

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