As of January 1, 2023, if you install a new air-source heat pump in your primary residence, and it meets certain efficiency requirements, you'll be eligible for a federal tax credit of up to $2,000, or 30% of the installation cost, whichever is less. Nice! (Ground-source / geotherm...
As of 2023, interest in heat pumps has reached an all-time high in the U.S. because the federal government and several states now offer huge incentives for installing them. It’s part of the effort to reduce carbon emissions, and heat pumps can make a huge difference on that front. Tha...
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The federal study found that by installing a cold-climate air-source heat pump, Canadian households switching from anelectricfurnace would save an average of $700 to $1,900 a year inutility bills, and those with furnaces that run onheating oilwould save $1,000 to $3,500 a...
Inflation Reduction Act heat pump rebates make LG heat pumps a smart and efficient choice for your home.
Heat pump water heater tax credits can be claimed on your annual federal tax return if you’re eligible State rebates vary widely across the U.S., but new programs are expected to roll out in 2023 under the Inflation Reduction Act
Now is a great time to add or upgrade heat pumps in your home because there's a ton of federal and local money on the table to help you afford it. "You've got a lot of opportunities to pass the savings onto yourself," said Katie Davis, VP of engineering and technology for residenti...
The government of Canada announced it is now accepting applications for its Oil to Heat Pump Affordability Program. Eligible low-to-middle-income Canadian households currently heating their homes with oil can apply for an upfront payment of up to CAD 10,
lines like Carrier and Lennox typically being the most expensive. But there are less expensive options that compete with those brands on efficiency. Check the federal registry and with your contractor to see what trade offs you’re happy with when it ...
Rebate and loan programs are the two most widely used incentives for residential heat pump installations in the U.S. This study compares the impacts of rebate and loan incentives on residential air-source heat pump adoption in North Carolina. First, our results show that the rebate program ($...