Many Long Island homeowners put off getting a new HVAC home system even when necessary because of costs, which are exacerbated due to inflation and taxes. Also, many homeowners have concerns about the environmental impact and potentially contributing to the negative effects of climate change.
Luckily, a new method of saving money on that new water heater, furnace, or air conditioner that your household needs - while also helping the environment - was recently introduced, and all homeowners need to know about it.
The Homeowner Inflation Reduction Act, recently instituted by the President, seeks to make energy-efficient home solutions more affordable and accessible. This is one step towards combating climate change and encouraging widespread eco-friendliness.
Receive Up to 30% Off Your Taxes For Being Ecologically Efficient
Taxes are a major expense for homeowners... but they don't have to be. The Household Inflation Reduction Act allows Long Island homeowners to offset the cost of upgrading and replacing their current home energy systems through tax benefits. The IRA is currently offering up to a 30% tax credit when you purchase a qualifying, energy-efficient:
- Water Heater
- Air Conditioner
- And Other HVAC Systems
The annual cutoff for your 30% total tax cost reduction is $1,200. The cutoff for HVAC system tax reductions is $600.
Receive a Rebate When You Purchase and Install Energy-Efficient Systems
When you purchase energy-efficient systems or complete any eco-conscious upgrade to your home, you are eligible to receive a rebate to make the equipment more affordable. In total, a homeowner’s reimbursement can total up to $14,000. Additionally, you can receive a $150 credit to fund a professional inspection meant to determine the ways in which you can make your home more energy efficient, as well as refunds on labor costs.
The amount of money that you can receive back is dependent on the system that you purchase. For example, you can receive up to $1,750 for qualifying HVAC systems.
When you’ve decided which home systems you want to purchase or upgrade, a professional at Varsity Home Service can get you more information and get started on your installations or upgrades.
Get a New Energy-Efficient System and Save on Taxes in New York with Varsity Home Service!
Getting your benefits from the Homeowner Inflation Reduction Act and installing your upgrades and replacements may seem like a difficult task. However, we make it easy for Long Island homeowners to access the information, resources, and services they need.
At Varsity Home Service, we offer brand-new energy-efficient heating and air conditioning system installations and repairs for residents of Suffolk County and Nassau County. Our team has an A+ Better Business Bureau rating from providing three generations of high-quality, long-lasting services and products.
All of our high-efficiency HVAC services and products are eligible for tax reductions, rebates, and credits under the Homeowner Inflation Reduction Act! Additionally, we offer competitive rates with flexible financing options for further affordability.
We also offer the following services in high demand by Long Island residents:
- Water Filtration
- Gas Line Conversions
- Indoor Air Quality
Contact us today to learn more, and get one of our ecofriendly systems installed in your home today!
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