A High-Efficiency HVAC Installation Will Save You Money On Energy Costs From Day One
Is your heat pump or furnace nearing the end of days? If so, it’s a perfect opportunity to start shopping for an energy efficient heating system replacement. Today’s heating and cooling systems are specially designed to be highly efficient performers, and there are federal tax credits and utility company rebates in place to encourage the purchase high efficiency products.
Energy efficient heat pumps, furnaces, geothermal systems and air conditioners can raise the property value of your home. Even better, the savings you’ll see on energy bills month after month will more than pay for your installation costs over time.
Federal Tax Credits For Energy Efficient Geothermal Heat Pump Installations
You can reduce your 2015 or 2016 income tax significantly when you replace an existing heat pump or furnace with a high efficiency geothermal system. You’ll qualify for a federal tax credit of 30 percent and a North Carolina state tax credit of 35 percent. That’s a total savings of 65 percent off your installation costs.
In order to take advantage of these credits and rebates, you must purchase and install a geothermal heat pump by the end of 2016. The credits can be claimed for geothermal heat pumps installed in new construction or existing homes, and the homes can be primary or secondary residences. If you want to go green and save money at the same time, a geothermal system may be right for you.
North Carolina Utility Company Energy-Efficient Rebates
The Duke Energy Progress Home Improvement Program will give you a rebate of $100 if you schedule a home energy audit with an HVAC contractor. They’ll also give you a $300 rebate if you install a new, high-efficiency heat pump, air conditioner, furnace or geothermal system, a $500 rebate if you install attic insulation and a $380 rebate if you have your ductwork sealed or replaced.
Duke Energy will give you a $50 rebate if you schedule a home energy checkup with an HVAC contractor and a $200 rebate if you install a high efficiency heat pump, furnace, air conditioner or geothermal system. You can get a $450 rebate when you seal and insulate your home, $250 if you seal and insulate your attic, $100 when you seal your duct work, $75 if you insulate your ducts, and $350 for installing a heat pump water heater.
Piedmont Natural Gas will give you a $50 rebate when you install a traditional water heater, $250 if you install a tankless water heater and $300 if you install a high-efficiency furnace.
PSNC Energy will give you a $100 rebate when you install a high-efficiency furnace or water heater.
Want to learn more about other North Carolina rebates, discounts, credits and incentives you could cash in on when you install a high efficiency furnace, heat pump, air conditioner or geothermal installation? Contact the Rapid Repair Experts Customer Care Team and schedule a free in-home heating replacement consultation.