At JK Mechanical, we are committed to providing reliable, affordable comfort solutions that you can count on for years to come. Depending on factors such as your location, your property type (residential primary residence vs. commercial or rental, for example), your current tax liability, status of other improvement projects and more, you may be eligible for Federal Tax Credits on certain HVAC, plumbing, electrical, and solar installations.
With the passing of the 2022 Inflation Reduction Act, additional funds are expected to become available for electric and green energy updates. At JK Mechanical, we’re excited about incentives that will make it easier and more affordable for home and business owners to add solar energy, geothermal HVAC, energy efficient electric heat pumps, and more. However, while the Federal Tax Credits were placed into immediate effect, the additional rebates expected under the IRA are being implemented by the states and details and guidelines have yet to be determined, with an expected implementation deadline of 2024. For current news and updates, be sure and sign up for the JK Newsletter and follow us on social media.
Our goal is to make the tax credit process as painless as possible; however, please note that JK Mechanical is not a financial or accounting organization and cannot offer financial advice. We will do our best to provide you with the resources you need along the way so you, your family, or your organization can secure all the tax incentives possible. For new system installations, your JK Comfort Consultant will note eligible tax credits based on their best estimate on your proposal, so you can make an informed decision during the equipment selection process. After the installation, the JK billing department will provide you with a paid receipt for your records, and applicable AHRI eligibility certificates. Eligible projects may also be able to be combined with manufacturer or utility incentives for extra savings. Contact us today or ask your consultant or service technician for more information at the time of your quote.
Current Estimated Federal Tax Credits: 2023
| New Project | Potential Tax Credit |
|---|---|
| Geothermal Heat Pump | 30% through 2033 |
| Solar PV | 30% through 2033 |
| Heat Pump (non-geothermal) | 30% up to $2,000 |
| EnergyStar Certified Gas or Propane Boilers and Furnaces | $150 |
Links
IRS Residential Energy Tax Credit form #5695
Rewiring America Incentive Calculator (estimated information)
WaterFurnace Geothermal Incentives Page
Energy.gov Solar Tax Credits for Homeowners
Energy.gov Solar Tax Credits for Businesses
