2024 Energy-Efficient Tax Rebates in Delaware

Those looking to make energy-efficient upgrades to their HVAC equipment will be happy to learn that their investments will cost less, thanks to available energy-efficient tax rebates in Delaware.

With the introduction of the Inflation Reduction Act of 2022, the federal government has created new tax incentives to help families afford the cost of replacing their HVAC systems with more energy-efficient solutions.

In this blog post, the comfort specialists at McCrea Heating & Air Conditioning explain tax rebates for Delaware families so you can learn how to take advantage of all available savings.

What Tax Rebates Are Available for HVAC Installations in Delaware?

Signed into law in August 2022, the Inflation Reduction Act (IRA) was designed to help families afford energy-efficient upgrades to their homes, making them more financially accessible. Under the IRA, any qualifying systems replaced or installed between Jan. 1, 2023, and Dec. 31, 2032, may be eligible for a tax rebate.

How Much Will My Rebate Be?

The total rebate amount you receive depends on the type of system you have installed or replaced. In general, you may receive up to 30% of the total installation cost for your project; however, there are annual caps to consider for each system, which may affect the total amount you receive:

• Heat pumps: Eligible for a tax rebate of up to 30% of the total cost or up to $2,000.
• Central air conditioners: Eligible for a tax rebate of up to 30% of the total cost or up to $600.
• Furnaces: Eligible for a tax rebate of up to 30% of the total cost or up to $600.

Eligibility Requirements for Energy-Efficient Tax Rebates

All homeowners who purchase energy-efficient HVAC systems for their properties are eligible for savings under the IRA. However, some programs established through the act are geared more toward low- and moderate-income families.

Specifically, the High-Efficiency Electric Home Rebate Act (HEEHRA) supports low- and moderate-income households for qualified electrical projects such as heat pump installations.

Low-income families are eligible to have 100% of the cost of their heat pump installation covered, while moderate-income families may receive 50% of the total cost of their project.

How Do I Apply for a Tax Rebate?

To receive a tax rebate for your project, you’ll need to consult with a tax professional and submit the appropriate documentation at the time of your annual income tax filing. Required documentation may include:

• Receipt of purchase
• Certification of energy efficiency ratings
• Contractor ID and contact information

Speak with your tax advisor to ensure you’ve gathered all the appropriate materials before submitting your rebate request so you have the best chance of securing your savings.

Upgrade Your HVAC Equipment With Help From McCrea

At McCrea Heating & Air Conditioning, our team is well-versed in all state, federal, and local rebates for homeowners looking to enhance their energy efficiency.

Offering the highest quality HVAC systems in compliance with all efficiency requirements, we ensure your installation project is conducted to the highest standard, allowing you to reap the full rebate amount so you can enjoy maximum savings on your upgrade.

Schedule HVAC installation or replacement in Delaware today by contacting our team to book your appointment.