If you're interested in sustainable HVAC solutions, then you'll be happy to learn that there's never been a better time to seek them out. Not only is eco-friendly HVAC technology becoming more efficient and cost-effective, but there are tax credits and rebates available to make it more accessible. This is especially true of heat pumps.
The scoop
The heat pump is a method of heating or cooling that absorbs heat energy from the air and transfers it either to or from your home. Because it doesn't need to generate hot or cold air itself, the technology is far more energy-efficient — saving money and also generating less pollution — than conventional HVAC systems.
The resulting savings can total around $4,910 over a 10-year span, according to Chris Day, marketing and training vice president of leading HVAC manufacturer Rheem.
However, a few things have been keeping some homeowners from making the switch to a heat pump.
💡Save thousands with a heat pump
A heat pump can save you thousands of dollars in heating and cooling costs — but first you have to find the right installer at the right price.
Use EnergySage's free tool today to find local options, compare prices, and see how much you can save.
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For one, initial costs for the technology are expensive. Homeowners can make that money back (and then some) over the unit's lifespan, but that doesn't help if they can't afford it in the first place.
Heat pumps are also known to become less efficient in frigid weather. While this means little to homeowners in consistently mild or warm climates, it can make a big difference for their neighbors to the north.
Fortunately, both advances in technology and recent legislation offer solutions to these issues.
How it's helping
Thanks to the Inflation Reduction Act, homeowners can enjoy tax credits and rebates when they opt for sustainable home upgrades. Your heat pump can potentially qualify for IRA benefits, meaning you'd be saving thousands of dollars on your installation. For many, that can be all the difference.
A recently launched heat pump model from Lennox offers a solution to poor frigid-weather efficiency, too. According to its website, the Dave Lennox Signature Collection SL22KLV Cold Climate Heat Pump can handle cold temperatures at 150% greater efficiency than a standard heat pump. This model should qualify for IRA tax credits, too.
However, keep in mind that President Donald Trump has consistently spoken about repealing the IRA, which would require an act of Congress. If you want to enjoy these savings on your new heat pump, it may be worth acting sooner rather than later.
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The cost of installation 💵 What everyone's saying
Steve Pemberton of Elephant Energy recently offered some useful advice on choosing a heat pump installer.
"I always recommend using a local utility provider, clean energy government office, or other industry-leading organization," he said. "They often have lists of vetted contractors as rebate programs have specific contractor requirements that must be met."
You can also use Energy Sage's Heat Pump Marketplace. The site offers free quote comparisons based on your HVAC needs and provides advisers who can guide you through the entire process.
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