Federal Tax Credits

Inflation Reduction Act.
Inflation Reduction Act.

2022 Inflation Reduction Act

As part of our complimentary consultation and estimating process, Ocean State Air will identify the best rebates and tax credits for you.

The 2022 Inflation Reduction Act is the largest climate investment in American history, projected to reduce greenhouse gas (GHG) by 31% by 2030. It provides tax credits and rebates to encourage homeowners to replace older appliances with high-efficiency equipment, which is cleaner and less expensive to operate and maintain than fossil fuel heating systems. Details on tax credits are below; see rebate details here. Many homeowners are eligible for both rebate(s) and tax credits; we will help you determine the best options for you.

Under the Inflation Reduction Act, homeowners are eligible for a tax credit of 30% of the cost (up to $3,200) of heat pumps and/or heat pump water heaters. We will recommend models that qualify for the tax credit. Tax credits are a federal tax incentive, filed by the homeowner as part of their federal tax paperwork. The tax credit reduces the amount of tax owed by the homeowner. Please consult a tax advisor for advice on your eligibility.

Federal HVAC Tax Credits

The Inflation Reduction Act extends and expands the existing Energy Efficient Home Improvement Credit (Section 25C) and the Residential Clean Energy Credit (Section 25D) to homeowners.

Projects installed between 2023 and 2032 quality for a 30% tax credit. Homeowners are eligible for a total tax credit of up to $3,200.

Air Conditioners: Tax credit capped at $600

Heat Pumps: Tax credit capped at $2,000

Furnaces and Boilers: Tax credit capped at $600

Take advantage of the generous rebates, tax credits, and financing options currently available! Ocean State Air offers free consultations and estimates and will help determine which opportunities are best for you.

Buy Now and Save

Up-front costs are typically the biggest obstacle to upgrading your heating and cooling system. The Inflation Reduction Act of 2022 overcomes that barrier. With the federal savings and financing options available through Ocean State Air Solutions, we can help you get the upgrades you need. Call 401-293-0422 today or request service online to learn more about how to save money.

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