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Can I Get a Tax Credit for Installing a Heat Pump?

two heat pumps next to a house

Is your aging heating and cooling system costing you a fortune in energy bills? This is a common sign that it's just about time to install a replacement. But instead of installing a traditional furnace and air conditioner, you may want to consider installing a heat pump to take advantage of newly instated federal tax credits.

Federal Tax Credits for Installing High-Efficiency Heat Pumps

Thanks to the Inflation Reduction Act of 2022, homeowners who install heat pumps on January 1, 2023, or after, are eligible for a federal tax return on models that meet the Consortium for Energy Efficiency's (CEE) highest efficiency tier. That's right - you can get money back simply by upgrading your heat pump. Not only is it an environmentally friendly choice, but you can also save money on your energy bills.

If you’ve been considering installing a heat pump, now is the perfect time to reap all the benefits of this great incentive. Remember, heat pumps must be installed on or after January 1, 2023, to qualify for the federal tax return. This federal program will continue through the end of 2032.

Air Source Heat Pump Incentives in Connecticut

According to Energize Connecticut, Connecticut businesses and homeowners that install air-source heat pumps can also benefit from rebates. Homeowners can earn up to $15,000 in combined incentives for qualifying heat pumps. If you're interested in participating in the program, it's best to work with a participating distributor (Tri-City Heating and Cooling is proud to be one).

Can a Heat Pump Really Keep Me Warm in Connecticut?

In short, the answer is yes! Air-source heat pump technology has advanced in recent years, allowing these systems to keep your home warm even in freezing climates like ours here in Milford.

Heat pumps are the perfect choice for homeowners in Connecticut because they heat your home more efficiently than a traditional furnace and air conditioner. Plus, heat pumps can heat and cool – so you’ll have year-round comfort at a fraction of the cost.

Heat Pump Installation in Milford, CT

If you're ready to install a heat pump and take advantage of the tax credit and rebates, our certified technicians at Tri-City Heating and Cooling are here to help. Contact us today to get started: (203) 303-5700!