Cost is always a factor when searching for the right HVAC system for your home or business. Heating and cooling systems are an essential amenity for most climates in the US. Here in Massachusetts, we face cold, snowy winters and hot, humid summers. Because of this, climate control is of the utmost importance for staying safe and comfortable. But how do we make it affordable?

One way to save is by switching to the most eco-friendly HVAC technology on the market. The long and short-term savings of heat pumps on utility bills is a great way to even out the cost. The upfront cost of a heat pump, however, is significant. Thankfully, there are ways to save on installation and soften the impact. You can use or combine any of the following:

Federal Rebates & Tax Credits

One significant way to offset the cost is by taking advantage of federal incentives aimed at reducing greenhouse gas emissions. The Inflation Reduction Act's Energy Efficient Home Improvement Tax Credit offers homeowners a $2,000 rebate for qualifying heat pumps with a thermal efficiency rating of at least 75%. Additionally, the High-Efficiency Electric Home Rebate Program has rebates available up to $8,000 for all-electric heat pumps Moreover, homeowners opting for ENERGY STAR® geothermal heat pumps can use Tax Section 25D, which provides a tax credit of 30% of installation costs.

Massachusetts Rebates & Loans

Recognizing the importance of affordable heat pump installations, both MassSave and the Massachusetts Department of Energy Resources offer incentives to residents. These include substantial rebates ranging $10,000 to $16,000through MassSave, with the potential for some low-income households to have the entire system installed for free. Additionally, Massachusetts DOER loans provide 0% financing opportunities of up to $50,000, easing the financial burden of upfront costs.

One of the top HVAC manufacturers, Carrier, offers financial assistance through its spring CoolCash program, offering rebates and financing estimated at $2,300, enabling homeowners to offset installation expenses and make heat pump systems more attainable.

Navigating rebates can be daunting but your Total Temperature Control consultant can help walk you through your options!

If you have any questions or concerns, feel free to contact us.

Whether you need 24-7 emergency service or a solution to improve your indoor comfort—at home and work—call us at 781-224-2400 or submit a convenient contact form.