Those looking to update their HVAC equipment in 2025 will be happy to learn that doing so may qualify them for special rebates, reducing the cost of their investment. Thanks to the Inflation Reduction Act (IRA) of 2022, families throughout Danvers, MA, and the surrounding area have access to special savings on their heating and cooling upgrades.
In this article, the comfort specialists at Cranney Home Services explain what incentives are available to Danvers homeowners so they can plan for their heating and air conditioning replacements in 2025.
How the Inflation Reduction Act Can Help You Save on HVAC Costs
Signed into law in August 2022, the IRA is a piece of legislation that attempts to address various issues, including HVAC energy efficiency. Under the act, federal programs have been established to provide over $7 billion worth of rebates for energy-efficient upgrades made to residential heating and cooling equipment between Dec. 31, 2021, and Dec. 31, 2032.
Families who choose to upgrade their HVAC equipment to more efficient products during this time may qualify for special rebates and tax incentives to minimize the cost of their investment.
Which HVAC Rebates Are Available?
There are several HVAC rebate programs available to Danvers families, including:
- Energy-Efficient Home Improvement Credit: Danvers residents may receive up to $2,000 per year for central AC, heat pump, or biomass boiler installations performed between Jan. 1, 2023, and Jan. 1, 2033.
- Residential Clean Energy Credit: Families may be eligible to receive 30% of the cost of new, qualified clean energy property installations.
- ENERGY STAR® Geothermal Heat Pumps Tax Credit: Families who install a geothermal heat pump system between Dec. 31, 2021, and Jan. 1, 2033, may receive up to 30% of the cost of installation for their project.
Massachusetts HVAC Rebates for 2025
In addition to the federal rebate and tax incentive programs, there are several local rebate opportunities available to Massachusetts families, including:
- Mass Save rebates: Customers who install a high-efficiency, whole-home heat pump may receive up to $10,000 back for installations that take place on or after Jan. 1, 2025.
- Danvers Electric rebates: Danvers Electric customers who purchased an ENERGY STAR®-certified appliance within one year of applying for a rebate may be eligible for up to $115 for qualified air conditioners, $4,000 for qualified electric heat pumps, and $50 for qualified wireless-enabled smart thermostats.
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Benefits of Upgrading to Energy-Efficient HVAC Systems
Choosing to upgrade your HVAC equipment to a more energy-efficient system can provide several benefits beyond rebate opportunities, including:
- Lower energy costs: Energy-efficient HVAC systems consume less power, significantly lowering utility bills.
- Improved indoor comfort: Advanced HVAC systems provide better temperature control, maintain consistent airflow, and often include humidity regulation features.
- Reduced environmental impact: Energy-efficient systems use eco-friendly technologies, such as variable-speed motors and smart thermostats, which reduce carbon emissions.
- Enhanced air quality: Many energy-efficient HVAC systems have superior filtration and air purification technologies, reducing indoor pollutants and allergens.
- Increased property value: Upgrading to an energy-efficient HVAC system can boost your property’s resale value.
Why Choose Cranney Home Services for Your HVAC Needs?
If you want to upgrade your HVAC equipment this year, Cranney Home Services has the team you can trust to get the job done right. With over 40 years of local service experience, our family-owned and -operated HVAC company provides a five-star experience to every customer, ensuring 100% satisfaction.
We offer free estimates on all replacements, helping you make the most informed decision for your home comfort every step of the way.
Schedule your HVAC replacement in Danvers, MA, by contacting our team online today.