With the ongoing push for cleaner energy in the United States, there are many incentives for homeowners to make their homes more energy-efficient. Updates to your HVAC system and appliances are a great way to save energy, and with available rebates and tax credits, there’s never been a better time to invest in your home.

The Inflation Reduction Act of 2022

In August 2022, the Inflation Reduction Act (IRA) was signed into law, including $391 billion to support clean energy in response to climate change. Included are $8.8 billion in rebates for homeowners who make home updates to be more energy-efficient. Some of these federal funds are not available yet as the Department of Energy works to conduct stakeholder outreach, develop program guidance, and host listening sessions. Funds should be available by the end of 2023 for programs, including the Home Energy Performance-Based whole-house rebate (HOME), which will offer rebates for residential energy improvements, and the High-Efficiency Electric Home (HEEH) rebate, which will offer rebates for electric appliances. Updates on these programs can be found on the DOE Home Energy Rebate Program website. 

Current Tax Credits & Incentives

While not all IRA funds are currently available, some immediate federal tax income credits will be available through 2032 and will provide up to $3,200 annually for updates made to increase energy efficiency in the home, like heat pumps, insulation, and more. There is also a Residential Clean Energy credit available for homeowners who purchase clean energy equipment like rooftop solar, wind energy, geothermal heat pumps, and battery storage. With these upgrades, homeowners can receive a 30% income tax credit.

Many Energy Star appliances and improvements qualify for tax credits:

• Air source heat pumps offer a maximum of $2,000 credit
• Central air conditioners offer a maximum of $600 credit
• Boilers offer a maximum of $600 credit 
• Biomass fuel stoves offer a maximum of $2,000 credit
• Furnaces offer a maximum of $600 credit 
• Heat pump water heaters offer a maximum $2,000 credit
• Natural gas water heaters offer a maximum of $600 credit 
• Insulation offers a maximum $1,200 credit
• Windows & skylights offer a maximum $600 credit 
• Exterior doors offer a maximum $500 credit 
• Geothermal heat pumps offer up to 30% tax credits
• Small wind turbines offer up to 30% tax credits
• Solar energy systems offer up to 30% tax credits
• Fuel cells offer up to 30% tax credits
• Battery storage technology offers up to 30% tax credits
• Electric panel upgrades offer a maximum of $600 credit 

State Upgrade Rebates

CenterPoint Energy offers various rebates and programs to help homeowners in Indiana and Ohio save money while conserving energy. Rebates range from $25 to $800 and are available for a variety of home upgrades, including:

• Heating & cooling equipment, including furnaces, boilers, central AC, and heat pumps 
• Appliances, including air purifiers, washers & dryers, and dehumidifiers
• Weatherization, including attic insulation 
• Thermostats, including “smart” and Wi-Fi-enabled options
• Water-heating equipment, including traditional and tankless water heaters, heat pump water heaters, and pool heaters

Additional utility rebate programs for Indiana and Ohio are available for various equipment and appliance updates.

Choose Korte Does It All

Take advantage of these energy-efficiency savings today by calling Korte Does It All! Since 1965, we’ve been helping residents of the Fort Wayne area with all their HVAC, plumbing, and electrical needs. Our highly trained technicians are licensed and insured to ensure you get only the best in service, and with our Peace of Mind agreement and free estimates on replacements, it’s no wonder we’re Indiana’s one-stop shop for home improvement!

To discuss how we can help improve your home’s energy efficiency, call us today at (260) 493-2596 or contact us online!