Inflation Reduction Act Incentives for Homeowners

Get Heat Pump Federal Tax Credits in Indianapolis

The Inflation Reduction Act could lead to homeowners getting up to $14,000 for energy efficiency improvements. At Plumbing Heating Paramedics, we want to help you understand what the Inflation Reduction Act can do for homeowners in the Indianapolis area and how we can help. The IRA is packed with incentives for homeowners to upgrade to energy-efficient appliances, including installing high-efficiency cooling, heating, and water-heating equipment. Some of the IRA’s most notable credits and rebates are offered for heat pumps. A heat pump is a high-efficiency system that can heat and cool your home in place of a traditional air conditioner or furnace.

Do I Qualify for IRA Rebates?

IRA rebates are offered for new technology, insulating, and sealing a home. The IRA states that if you have a household income less than 80 percent of your state’s median household income, your household is eligible for all the rebates available. If your household income is 80 percent to 150 percent, your home is eligible for 50 percent of the rebates. Some households can get back up to $8,000 for a heat pump, $840 for an electric oven, and $1,750 for a heat pump water heater. Simple changes like upgrading to a heat pump from a gas furnace may qualify you for these IRA rebates. Tax credits go towards 30 percent of the total cost of a heat pump, including labor, up to $2,000. The IRA rebates extend through the end of 2032.

Heat Pump Installation Tax Credits

The IRA also includes an additional up to $1,200 in total tax credits per year on expenditures towards specific efficiency upgrades that include heat pumps. Some of these upgrades include:

  • Air Sealing Systems of Materials – $600 to improve your home’s energy efficiency
  • Home Energy Audit – $150 to determine additional ways to improve your home’s energy efficiency
  • Upgrading Electrical Supply – $600 to upgrade your electrical supply for energy-efficient appliances

Importance of Energy-Efficient Upgrades

The IRA projects a 42% carbon emission reduction by 2050. An energy-efficient home saves money and helps avoid the worst of climate change. Upgrading from fossil fuel-burning appliances to electrical appliances boosts energy efficiency and saves money over time. Reducing the fossil fuel usage in your home helps reduce overall fossil fuel consumption, helping to fight climate change.

Why Choose Plumbing Heating Paramedics?

Plumbing Heating Paramedics proudly serves the Indianapolis area, including Carmel, Fishers, Westfield, Zionsville, Noblesville, McCordsville, Lapel, and Fortville. We stand above the rest with our superior plumbing and heating services. Our licensed technicians are not required to meet sales quotas, meaning you get the highest level of service without high-pressure sales. We want the best for your needs. Our “Emergency Maintenance Service”, EMS, offers a free yearly home inspection of your heating and plumbing equipment to ensure its working at optimal levels. We understand every customer’s situation is unique, so we’re committed to treating you like family.

Contact Plumbing Heating Paramedics for Heat Pumps

Plumbing Heating Paramedics is here to help you understand the Inflation Reduction Act and save money with a heat pump installation. Our Fishers Plumbing Company includes certified, licensed technicians and offers 100% of your money back if you are not satisfied with our services. You can trust us to help you stay comfortable throughout the year. Contact us today to schedule a heat pump installation or learn more about the Inflation Reduction Act.