The government wants to give you $2,000 for an unbelievably efficient water heater — cash in before incentives disappear
Thanks to the Inflation Reduction Act, you can receive up to $2,000 from the government to install a brand new heat pump that will save you money every month.
People don't typically think about their water heaters very often. It only attracts attention when the faucet runs cold. Many are paying more than necessary when it comes to heating bills due to outdated water heating systems that are in dire need of an upgrade. And there is no better upgrade than a heat pump.
Heat pumps are the most energy efficient way to heat water. These electric systems cost less and don't create as much harmful pollution as regular water heaters. Energy Star estimates that the average family of four children can save about $550 annually by switching to a heat pump. That means lifetime savings of over $5,500.
You should replace your water heater approximately every 10 years. However, the government is giving you a lucrative reason to do so now. One of the most exciting IRA incentives is the heat pump upgrade tax credit and rebate. The government will give you a tax credit for 30% of the project cost up to $2,000. That's $2,000 less when tax season rolls around.
Heat pump water heaters that are energy star certified qualify for the tax credit. Some people may be eligible for a discount, meaning they can get the money back sooner and not have to wait for tax season. Either way, you save on installation costs and improve your home. And you'll only continue to save money as you watch your monthly heating bill go down.
If you're ready to make the switch, Cala Heat Pump water heaters are an exceptional option. This company offers highly customizable smart heat pump water heaters that help homeowners dramatically reduce their energy bills and environmental impact. These heat pumps also increase comfort at home by accurately heating water when needed.
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These incredible incentives may not be available forever, so upgrade soon. As President Trump takes office, it is unclear whether or not the IRA incentives will still be available. If you wait too long, you may not receive credits or discounts.
Cala CEO Michael Rigney told Cooldown that “you can have up to 500% efficiency with a heat pump water heater,” making it an obvious choice for homeowners. And there's no better time to get one than now.
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