Energy-Efficiency Upgrades Available in 2023 Owning a home is one of the best investments that anyone can make. A home is a time-tested way to accrue wealth and provides families with a sense of security and a place to make memories. One of the difficulties with owning a home is dealing with periodic maintenance and replacing big-ticket items like heaters and air conditioners.  Luckily for homeowners, a new law is in place to help reduce the financial burden of updating a most precious asset. Here is some information about tax credits and rebates that homeowners can use in 2023.  What Does the Inflation Reduction Act Do? The Inflation Reduction Act was a bill passed by Congress in late 2022. The bill’s aim was ostensibly to fight inflation that devalues money and hurts everyones’ wealth. To combat inflation, the bill takes certain steps like lowering the national deficit and promoting lower drug prices. Of particular interest to homeowners, the Inflation Reduction Act also supports renewable energy by allowing homeowners to invest in energy-efficient heating and cooling equipment.  To make these improvements to their home, the Inflation Reduction Act offers certain tax credits and rebates for qualifying heat pumps and energy-efficient HVAC systems. These tax credits and rebates allow homeowners to update their home for lower costs since they can write improvement off on their taxes.  How to Qualify for Tax Credits and Rebates  The tax credits and rebates became legal in early 2023, and now is the perfect time to take advantage of them. The tax credits and rebates are tiered to apply more help to lower-income families. As a result, for homes earning less than 80% of the area median income, 100% of the cost may be covered. For homes earning more than 80% but less than 150%, 50% of project costs can be covered.  Maximums are in place depending on the type of system installed, but other project costs can be included as part of the project to accommodate the new installation. For example, a heat pump may be worth up to an $8000 tax rebate, but upgrading wiring and electrical panels can be included. For equipment to qualify, it simply has to be Energy Star Rated.  Why Upgrade to Energy-Efficient Heating and Cooling Equipment  Upgrading heating and cooling equipment is a project that is usually only required once every 20 years or so. Most people only navigate the process once in their lifetime since it can be expensive. With tax rebates making the job cheap or even free, families can focus on the benefits of upgrading to a heat pump or energy-efficient furnace.  The biggest benefit of installing energy-efficient equipment is the savings one sees on their bills. Heating and cooling bills are the biggest chunk of monthly bills, so reducing those bills over time can take a huge financial load off the budget every month. Additionally, energy-efficient equipment is inherently more reliable. This means fewer outages as well as fewer surprise repair bills.  About Beltz Home Service Co. Beltz Home Service Co. is a veteran-owned, local business providing expertise in electrical, plumbing, heating, and cooling. With over 20 years of service to the community, they place their highest value on good customer service. Call today for upfront pricing on air conditioner upgrades in Findlay, OH.  +++ Distribution Links +

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