HVAC replacements and installations can require a significant investment from homeowners, placing a strain on their finances. However, thanks to the Inflation Reduction Act and other programs, Indiana homeowners now have plenty of tax incentives and rebates that can help them save on their HVAC upgrades in 2024.

In this blog post, the comfort specialists at Korte Does It All provide a complete breakdown of all the available rebates Indiana homeowners can take advantage of to help reduce the cost of their HVAC investment.

The Inflation Reduction Act Can Help You Save on HVAC Costs

Established in August 2022, the Inflation Reduction Act (IRA) is a bill designed to address climate change and healthcare concerns facing the United States. With slowing the effects of climate change being one of the primary objectives under the bill, the IRA allocated specific funding to develop rebate programs that provide tax breaks to homeowners making qualifying energy-efficient HVAC upgrades between January 1, 2023, and December 31, 2032.

Which HVAC Rebates Are Available?

Through the IRA, several rebate programs have been established, each of which offers incentives:

• ENERGY STAR® Geothermal Heat Pumps Tax Credit: The federal government provides a tax credit for geothermal heat pump installations up to 30% of the installation cost for systems purchased between December 31, 2021–December 31, 2032.
• Energy Efficient Home Improvement Credit: Qualified energy-efficient central AC, heat pumps, and boiler installations made between January 1, 2023, through December 31, 2032, may qualify for a tax credit of up to $3,200.
• Residential Clean Energy Credit: Homeowners may qualify for a tax credit of up to 30% of the costs of new, qualified clean energy products, such as geothermal heat pumps, purchased between 2022 and 2032.

Indiana-Specific HVAC Rebates

Northern Indiana residents who are customers of NIPSCO power company may also qualify for several different HVAC rebates. The amount you qualify for depends on the specific type of system you have installed:

• Smart Wi-Fi Thermostat Installations: A rebate of $65 is available for Wi-Fi-capable smart thermostat installations.
• Natural Gas Furnace Installations: Natural gas furnaces with an AFUE rating of greater than or equal to 95% may qualify for a $200 rebate.
• Natural Gas Boiler Installations: Natural gas boilers with an AFUE rating of greater than or equal to 92% may qualify for a $200 rebate.
• HVAC Tune-ups: A rebate of $25 applies to AC tune-ups, and a rebate of $50 applies to air-source heat pump tune-ups.
• Air Conditioner Installations: Depending on the SEER rating of your air conditioner, you may qualify for up to $300 in rebates.
• Air Purifier Installations: Installing an ENERGY STAR® rated air purification system may earn you a rebate of $50.
• Portable Dehumidifier Installations: Installing an ENERGY STAR®-rated portable dehumidifier may qualify you for a $10 rebate.
• Heat Pump Installations: Depending on the SEER rating and type of heat pump you install, you may be eligible for up to $300 in rebates.

Benefits of Upgrading to an Energy-Efficient HVAC System

Upgrading your heating or cooling system to an energy-efficient unit can provide you with many benefits, including:

• Lower energy bills: Energy-efficient HVAC systems use less energy, helping reduce heating and cooling expenses for your home.
• Improved home comfort: An energy-efficient HVAC system is designed to provide more consistent, even heating and cooling for your home.
• Reduced environmental impact: Energy-efficient HVAC systems produce fewer greenhouse gas emissions because they use less energy.
• Enhanced air quality: Energy-efficient HVAC systems often feature advanced filtration technologies that reduce airborne pollutants in your air supply.
• Increased property value: Installing an energy-efficient HVAC system in your home can increase its value, making it more attractive to buyers.

Choose Korte Does It All for HVAC Replacements in Fort Wayne, IN

If you want to install an energy-efficient HVAC system in your Fort Wayne-area home, look no further than Korte Does It All for help. Our team is deeply familiar with state, federal, and local rebate programs, helping you understand your options and maximize your savings on your HVAC replacement project. With upfront pricing and same-day financing approval, we help make your energy-efficient upgrades more affordable and accessible.

Schedule HVAC replacement services in Fort Wayne by calling our team at (260) 493-2596 now!