2024 Heat Pump Rebates for Virginia Homeowners
Since the passage of the Inflation Reduction Act (IRA) in August 2022, Virginia homeowners can now take advantage of exclusive rebates for qualifying heat pump systems.
Whether you want to install a new system or replace an old unit, these rebates provide the opportunity to enhance the comfort and efficiency of your home, making your heating and cooling upgrade a cost-effective investment.
In this blog post, we’ll explore the details of this rebate program, eligibility requirements, and the rebate amount you can qualify for.
What Is HEEHRA?
The High-Efficiency Electric Home Rebate Act (HEEHRA) is a point-of-sale rebate program created by the IRA to help low- to moderate-income (LMI) households move to environmentally friendly appliances.
This 10-year rebate program covers 100% of heat pump installation costs for low-income households and up to 50% for moderate-income households. This program makes it possible for homeowners to make affordable electrification upgrades.
When Can I Sign Up?
Kick off the new year with energy savings. The High-Efficiency Electric Home Rebate Act (HEEHRA) program is set to roll out its rebates for energy-efficient heat pump system installation and replacements by early 2024.
The U.S. Department of Energy (DOE) provided program implementation guidance to each state in July 2023.
Are You Eligible for the HEEHRA Heat Pump Rebates?
Eligibility for the HEEHRA heat pump rebate is dependent on the area’s median income, with the program being specifically designed for low-to-moderate-income (LMI) households.
A household that falls below 150% of the area’s median income (AMI) may qualify if it can meet the required eligibility criteria.
- Low-income households: Defined as those with an annual income of less than 80% of the Area Median Income (AMI), low-income households are entitled to extensive coverage under HEEHRA.
- Moderate-income households: Moderate-income households, falling within 80% to 150% of the AMI, also benefit from HEEHRA.
- Multifamily buildings: These buildings must have a population makeup of at least 50% low-to-moderate-income residents to benefit from the HEEHRA rebate program.
The U.S. Department of Housing and Urban Development’s income limit tool can help determine your eligibility by checking your Virginia county’s AMI.
How Much Can I Expect From My HEEHRA Heat Pump Rebate?
The amount of financial coverage for the HEEHRA heat pump rebate program depends on your household’s income level. Low-income households can benefit substantially, with 100% of costs being covered for qualifying heat pump installation, providing a maximum rebate of up to $8,000 toward the upgrade cost.
Moderate-income households also benefit from the rebate program, covering up to 50% of heat pump installation costs — capping at $4,000.
The goal is to make energy-efficient appliances accessible to a broader range of households, balancing financial assistance and individual contributions. By tailoring financial support to different income levels, both low- and moderate-income households can participate in the HEEHRA program.
What Steps Can I Take To Get Ready for HEEHRA?
If you’re interested in investing in a new heat pump system and qualify for support under HEEHRA, it’s important to prepare before the rebates roll out. Taking the right measures can prepare you for these incentives when they’re officially released.
Ways you can get prepared include:
- Enlist professional energy audit services: By understanding your energy needs, you can make informed decisions based on professional upgrade recommendations.
- Do your research: Avoid inventory shortages for heat pumps when this program becomes available by knowing what heat pump products interest you.
- Find a reliable HVAC partner: When the time comes for your heat pump installation, you’ll want a trusted home service provider at your side.
McCrea Heating & Air Conditioning delivers honest and ethical pricing with over 80 years of industry experience. Our skilled and experienced heat pump technicians ensure your installation process is worry-free and completed with precision.