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Air Source Heat Pump Tax Credits: What You Need to Know

Air Source Heat Pump Tax Credits: What You Need to Know

Air source heat pumps are an energy-efficient way to heat and cool your home. They can help you save money on your energy bills and reduce your carbon footprint. In addition, there are a number of federal and state tax credits available to help you offset the cost of installing an air source heat pump.

What is the air source heat pump tax credit?

The air source heat pump tax credit is a 30% credit of the cost of the project, up to a maximum of $2,000. The credit is available for products purchased and installed between January 1, 2023, and December 31, 2032.

What products are eligible for the credit?

Eligible products include air source heat pumps that are either ducted or non-ducted. Ductless heat pumps must meet certain energy efficiency standards in order to be eligible.

How do I claim the credit?

To claim the credit, you will need to file Form 5695 with your tax return. You will also need to provide documentation of the purchase and installation of your air source heat pump.

In addition to the federal tax credit, there are a number of state and local tax credits available for air source heat pumps.

To find out more about these credits, you can visit the website of the Energy Star program.

Here are some additional benefits of installing an air source heat pump:

  • Air source heat pumps can help you save up to 50% on your heating and cooling costs.
  • Air source heat pumps are environmentally friendly and can help you reduce your carbon footprint.
  • Air source heat pumps are low-maintenance and can last for up to 20 years.

If you are considering installing an air source heat pump, get in touch and schedule a free estimate.

We can help you determine if an air source heat pump is right for your home and can provide you with a free estimate.

Learn more about Federal Heat Pump Tax Credits at https://www.energystar.gov/about/federal_tax_credits/air_source_heat_pumps

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