What the Inflation Reduction Act Means for You – Tax Credits and Rebates (IRA)

Is it time for you to upgrade your home’s HVAC system, water heater, and electrical box? Learn about the huge savings on your new equipment and installation costs provided by the Inflation Reduction Act.
Learn More On How To Earn Up To $3,200 in IRA Tax Credits

TAX CREDITS AVAILABLE January 1, 2023

How Much Can I Save with Tax Credits?

The Inflation Reduction Act was signed into law August 2022 and has allocated over $369 billion to benefit homeowners who make energy efficient upgrades in the form of tax credits and rebates. This new legislation allows homeowners to save more than $14,000 in consumer rebates and tax incentives for families who purchase heat pumps or other energy efficient home appliances. These energy efficient upgrades can save homeowners in Salt Lake City over $600 annually on their energy bills. While rebates are currently unavailable until the end of 2023, tax credits are available now to all customers.

Contact Whipple Service Champions or call (385) 446-2026 today to learn more about how you can save money this year through rebates and tax incentives.

25C Energy Efficient Home Improvement Tax Credit

We all love saving money on our taxes and the Inflation Reduction Act has built-in credits for household making energy efficient choices starting January 1st, 2023. The Energy Efficient Home Improvement Tax Credit is an expansion of the 25C tax credit that allows homeowners to deduct up to 30% of the total cost of certain home improvements with a $3200 annual limit. You should keep in mind that upgrades must meet applicable Consortium For Energy Efficiency and Energy Star requirements to be eligible for factoring into your tax credit.

Our home service professionals at Whipple Service Champions can provide you with expert help and guidance when you are ready for your energy efficient upgrades. Contact us online or call (385) 446-2026 to schedule your free home energy analysis today.

Yes, everyone is eligible for the 25C tax credit. There are no income qualifications for tax credit. Anyone with adequate tax liability to offset can qualify.

Yes, 25C upgrades must meet the Consortium for Energy Efficiency’s highest non-advanced tier and Energy Star requirements. Our professionals over at Whipple Service Champions can help you select the right upgrades to qualify for the 25C tax credit.

Our team at Whipple Service Champions will take the headache and hard work away and provide you with all the proper documentation to easily claim your home upgrade tax credits when you file your taxes.

Let Whipple Service Champions help you get the most of your tax credits. Contact us today or call (385) 446-2026 for assistance.

What’s To Come with Rebates….

High-Efficiency Electric Home Rebate (HEEHRA)

The High-Efficiency Electric Home Rebate program was designed to provide point-of-sale immediate discounts to low- and middle-income homeowners allowing them to save up to $14,000 on energy efficient upgrades. The program covers 100% of electrification cost for low-income households and 50% of costs for moderate income households; this includes cost of the equipment and labor for professional installation. Qualifications for this rebate program requires households to fall under the 150% area median income.

HEEHRA Rebate Table

Whole Home Energy Reduction Rebate Program (HOMES)

The HOMES rebate program will reimburse homeowners $2000-$8000 for whole-house energy improvements to encourage families to save energy. The rebate program offers $4000-$8000 or 80% of project cost to low- and middle-income households and $2000-$4000 or 50% of project cost to high income households if you cut energy usage from 20%-35% or more. HOMES rebates are based on performance of energy savings measured by a threshold of either 20% modeled savings (pre-upgrade) or 15% measured savings (post-upgrade). The more energy you save, the bigger the rebate and low to moderate income families qualify for double the rebate ($8000 max) as well as 80% of project costs. Everyone qualifies for the HOMES rebate program, however, low and median income households can earn more cash back

The HEEHRA and HOMES rebate is not available right now, but rebate programs will start sometime at the end of 2023 or beginning of 2024 through your State Energy Offices. The timing of these depend on your state of residence and on the Department of Energy guidance, so be sure to check with Whipple Service Champions to see if rebates are available when you’re ready to purchase.

Tax credits is money that will be given back to customers when they file their taxes. You can earn up to $3200 in tax credits with the 25C tax credit every year.

Rebates are on off-the-top discount at point of sale and will provide customers with upfront savings. Rebates will not be available until end of 2023 or the beginning of 2024. Contact Whipple to stay updated on the latest news on when rebates will be available in Salt Lake City, Utah.

Take advantage of the 25C Energy Efficient Home Improvement Tax Credit and ask our professionals at Whipple Service Champions how you can maximize savings with qualified energy efficient upgrades. Our team at Whipple Service Champions want to help you every step of the way.

Fill out our contact form or call (385) 446-2026 to learn more information on how to take advantage of the $369 billion Inflation Reduction Act.

No Surprise, Up Front Pricing

$1,200 OFF Purchase and Install of a New Home Generator
Expires 10/31/24
Free Water Softener with Purchase of Tankless Water Heater
Expires 10/31/24
$470 Whole-Home Duct Cleaning
Expires 10/31/24
FREE SECOND OPINIONS ON ALL REPAIR OR REPLACEMENT ESTIMATES!
Expires 10/31/24

Contact us to take advantage of the $369 billion Inflation Reduction Act

*Disclaimer: Whipple Service Champions does not guarantee the availability of tax credits or rebate funds, nor the specific rebate or credit amounts that may be available to each individual. Rebates and tax credits are subject to change and may vary depending on factors such as geographic location, income level, and the specific details of the heating and cooling system being installed. While we make every effort to provide accurate and up-to-date information about available rebates and tax credits, it is ultimately the responsibility of the homeowner to research and verify eligibility for any available incentives. In addition, please note that the information provided by Whipple Service Champions regarding tax credits is for general informational purposes only and should not be considered tax advice. Homeowners should consult with a qualified tax advisor to determine their eligibility for tax credits and to receive specific advice on their individual tax situation. Whipple Service Champions is not responsible for any errors or omissions in the information provided, and we make no guarantees or warranties regarding the availability or applicability of any tax credits or rebates.