– Understanding the Inflation Reduction Act
Find out how Hitachi® can help you take advantage of benefits offered through the 2022 Inflation Reduction Act
–What is the Inflation Reduction Act?
The Inflation Reduction Act (IRA) was signed into law on August 16, 2022. It’s designed to assist homeowners in the cost of installing higher-efficiency HVAC equipment, thereby reducing energy consumption and lowering energy costs. The included rebates and programs are not yet available, but are coming soon.
Whether homeowners are considering the installation of a heat pump or already installed one in 2022, the Inflation Reduction Act can help save money. The rebates included in the IRA are administered by your state of residence.
The Inflation Reduction Act (IRA) was signed into law on August 16, 2022. It’s designed to assist homeowners in the cost of installing higher-efficiency HVAC equipment, thereby reducing energy consumption and lowering energy costs. The included rebates and programs are not yet available, but are coming soon.
Whether homeowners are considering the installation of a heat pump or already installed one in 2022, the Inflation Reduction Act can help save money. The rebates included in the IRA are administered by your state of residence.
–Inflation Reduction Act components
–The Energy-Efficient Home Improvement Credit
This took effect on January 1, 2023, and covers $1,200 annually for qualifying equipment or 30% of the purchase, and an overall $2,000 annual limit for heat pumps.
–The High-Efficiency Electric Home Rebate Act (HEEHRA)
This features up to $14,000 in rebates per household when installing high-efficiency heat pumps and/or other efficiency improvements.
–The HOMES rebate program
This income-based program is focused on the real energy-efficiency performance of a home and electrification improvements. This rebate can’t be combined with the HEEHRA program, so it’s important to consult with a tax professional to determine if it’s the best option.
–The Inflation Reduction Act: Why does it matter?
When a homeowner buys energy-efficient equipment that qualifies, they can utilize cost-saving credits through the IRA. New equipment and efficiency projects that help electrify or reduce energy use may qualify for tax credits and rebates. These products and projects include weatherization, new electric appliances and the installation of electric heat pumps, for example.
When a homeowner buys energy-efficient equipment that qualifies, they can utilize cost-saving credits through the IRA. New equipment and efficiency projects that help electrify or reduce energy use may qualify for tax credits and rebates. These products and projects include weatherization, new electric appliances and the installation of electric heat pumps, for example.
–Qualifying Hitachi Products
Many of our innovative products qualify for IRA rebates. Download the complete list:
Many of our innovative products qualify for IRA rebates. Download the complete list:
–Resources
–White House Clean Energy Page
Learn more about the IRA program and other energy-saving initiatives.
–Inflation Reduction Act Webinar
This on-demand webinar discusses the Inflation Reduction Act and how it can help American homeowners afford higher-efficiency home comfort. The webinar features Chris Forth, VP of Regulatory, Codes & Environmental Affairs, who shares updated information on some of the key HVAC clean energy initiatives, including refrigerant transitions, building codes, tax credits and rebates.
