HVAC tax credits and incentives offer a real opportunity for property owners to save money!
Our clients know that Beehive is here to help you ensure the overall efficiency and comfort of your residential or commercial property. But did you know that we can also help support your environmental sustainability through HVAC tax credits?
HVAC tax credits are known for helping our clients save a significant amount of money on installation and utility costs. We want you to stay informed about how these incentives can support green initiatives and reduce your overall tax burdens—all while providing your home or business with top-rated heating and cooling solutions.
Today we’ll be detailing how home and business owners can leverage HVAC tax credits and incentives!
Understanding The Basics of HVAC Tax Credits & Incentives
It’s no secret how greenhouse gas emissions are a significant contributor to environmental degradation, global warming, and the climate change crisis. This is why national and local governments around the world are realizing just how important energy-efficient home technologies are toward mitigating the destructive effects of our everyday behavior.
HVAC systems are often the major source of a residential or commercial property’s overall energy consumption, which is why there has been an eco-conscious revolution throughout the HVAC industry in recent years. Installing cutting-edge, energy-efficient HVAC solutions can go a very long way to reduce the overall demand for heating, cooling, and ventilation energy usage. So in an attempt to combat the climate change crisis and promote sustainable property management practices, the US government has introduced all sorts of HVAC tax credits that are specifically tailored to companies like ours.
These tax incentives are incredibly powerful because they do a great job of motivating homes and businesses to choose more eco-friendly HVAC systems and technologies. This subsequently creates a win-win scenario in which consumers benefit from lower energy bills, and the environment benefits from lower greenhouse gas emissions!
Federal HVAC Tax Credits
There are many different HVAC investments that qualify for federal tax credits, and among these investments include geothermal heat pumps that utilize the planet’s stable temperatures to provide warm and cool air throughout a property. This type of innovative HVAC technology dramatically reduces a property’s energy consumption.
Solar heating is another sustainable energy that utilizes the sun’s energy to warm a property’s indoor air and water supply. Solar panels have become true beacons of renewable energy in recent years, and they help home and business owners reduce their overall reliance on fossil fuels.
This is why solar heating is a prime example of what the federal government is currently promoting through extensive tax credits like the solar tax credit.
State & Local Tax Incentives
The overall landscape of Utah and Salt Lake City’s HVAC tax incentives is incredibly vast, and these programs are specifically designed to encourage property owners to embrace eco-friendly HVAC solutions. Some of these incentives include low-interest loans on HVAC upgrades, grants, and many different types of tax rebates.
Energy conservation is huge here in northern Utah, and our team is here to help you navigate your way toward your most affordable efficiency solutions. As your HVAC contractor, we’ll help you with the following:
- Delving deep into the details of these tax incentive programs.
- Helping you understand the types of HVAC systems that make the most sense for your property.
- Connecting you to the right tax incentives and rebate programs, and ensuring that your next project is as affordable as possible.
New Home Energy Rebate Programs Coming in 2024!
The Inflation Reduction Act has just recently created some new rebate programs here in the state of Utah, and the Utah Office of Energy Development will have over $101 million in funding from the IRA to establish and oversee these rebate programs.
We’re anticipating that these rebate programs will be available starting in 2024, so this is an incredibly exciting time for northern Utah homeowners to take advantage of the government’s latest home efficiency rebates!
Here are more details about these new programs:
- Eligible energy improvements include efficient HVAC equipment, smart thermostats, air sealing, insulation, and much more.
- Rebates apply to all existing homes, including single-family homes, townhomes, duplexes, and multi-family units.
- Rebates vary based on a household’s income level, specific appliances installed, and expected energy savings.
Reach Out To Our Industry Experts To Learn More About The Latest HVAC Tax Credits & Incentives!
Beehive Heating & Air has supported thousands of homes and businesses throughout northern Utah with our comprehensive HVAC services, and we’re here to help you better understand how HVAC tax credits and incentives might apply to your next project.
Contact us online or call us at 801-849-3860 to get in touch with our team today and ask us about how we can implement tax credits during your next appointment!