In addition to its stated aim of curbing inflation, the Inflation Reduction Act (IRA) which was signed into law in August of 2022, is the largest federal investment to fight climate change in U.S. history.
It accomplishes this by offering tax credits and point-of-sale rebates to low-income (under 80% of Area Median Income) and moderate-income (between 80% and 150% of Area Median Income) consumers who purchase electric vehicles and other energy-efficient appliances, including high-efficiency air conditioning systems, between January 1, 2023 and December 31, 2032.
Eligible air conditioning systems include ENERGY STAR certified “split systems” with a SEER2 rating greater than 16 (a split system has an outdoor cabinet that houses the condenser and compressor, and indoor cabinet that houses the evaporator coil, and an air handler – this is what most homeowners have) and all ENERGY STAR certified “packaged systems” (a packaged system has the evaporator coil, condenser, and compressor in one cabinet that is usually placed on the roof or a concrete slab by the home’s foundation - this type of system is also used for small commercial buildings).
If you’ve been toying with the idea of upgrading to an energy-efficient air conditioning system, and you want to see if you can take advantage of these rebates and tax credits, visit https://www.rewiringamerica.org/app/ira-calculator.
Even if you don’t qualify for a rebate or credit, a new high-efficiency air conditioning systems can literally pay for itself in energy savings (e.g. a typical 18 SEER2 system uses 57% less electricity than a 12 SEER system with the same tonnage) so, if you’re about due for a new HVAC system, call 941-921-7208 - we’ll help you find the perfect heating and cooling solution for your comfort and budget needs!