How Kansas Homeowners Save with the Inflation Reduction Act

2023 Tax Credit on New Furnaces, ACs, Heat Pumps & More

2023 Tax Credit Benefiting Homeowners

Great news in 2023 for homeowners. You can now qualify for a big tax credit when you replace your home’s heating and cooling systems with qualified products.

Homeowners in Wichita, Kansas, and across the United States now have a wonderful opportunity to upgrade their home while also reducing energy costs. In this article from Hanna Heating & Air Conditioning, you will learn what you need to know to save money making your home better.

The U.S. government recently created laws that were meant to limit inflation and also help with climate control and health care.  A large bill called the Inflation Reduction Act (or IRA) is renewing the Energy Efficient Home Improvement Tax Credit (25C). This tax credit has been giving homeowners a financial incentive to get new HVAC systems that are more energy efficient than older units.

The Inflation Reduction Act helps homeowners pay for a variety of things. You can save with various home improvements including windows, water heaters, furnaces, and home cooling systems.

You Could Save $3,200 on Heating & Cooling Upgrades

Some of the biggest savings available are related to improving the comfort and temperature control of your home. If you take advantage of all the HVAC items included in this tax credit, you could save as much as $3200.

Save up to 30% off on installation of qualifying new systems. Keep reading to learn which types of systems can qualify you for this saving. Contact Hanna Heating & Air today to learn how to take advantage of Inflation Reduction Act credits in 2023. Call our Wichita office to learn more or to get a free estimate scheduled at 316-945-3481.

Qualifying Heating & Cooling Units

If you have a traditional furnace and central air conditioning system that is old or not working as well, this is the perfect time to get those replaced. With these tax credits, qualified air conditioners and furnaces get you up to $600 each.

However, homeowners can see even greater tax savings by getting a hybrid heat system installed. For qualified heat pump systems, homeowners can claim as much as $2000.

Hanna Heating & Air is the Wichita area of professional heat pump installers. Our team of trained and experienced heat pump technicians have been recognized for their quality work across the south Kansas region. Hanna Heating & Air has been given the Heat Pump Dealer Leader Award by Westar Energy.

To receiving financial savings for these upgrades, homeowners need to be sure to get qualifying ACs, furnaces, and heat pumps. You should consult with a professional HVAC company to ensure you are getting a system that qualifies you for receiving these tax credits. Contact Hanna Heating & Air to get help in finding the right qualifying system for your home.

Also, these installations must be happening to an existing home. These tax credits are only for items installed in homes that are being improved or added on to – NOT for new construction.

In most cases, this credit qualifies only for the home you live in.

Note: Specific information regarding the qualified systems and how to claim Home Improvement Tax Credits for 2023 and beyond is forthcoming pending the release of application instruction from the IRS.

New Year, New Savings

While these specific tax credits are for purchases made starting in 2023, you may still get some financial relief if you had qualifying units installed in your home in 2022. Last year there was a similar tax credit. The savings available with the Inflation Reduction Act of 2022 gave homeowners 10% off up to a $500 savings.

This 2023 Inflation Reduction Act is both an extension and expansion of that 2022 tax credit. That is what makes 2023 a wonderful year to finally get that old furnace or AC replaced! New installations of energy-efficient systems can now save you 30% off.

But 2023 may not be your only chance to take advantage of this federally funded money savings. These tax credits will be available for 10 years. Qualifying installations in your home up through December 31, 2032 could be covered.

Note: This information is accurate as of this writing. However, the government can make changes. You should get assistance from a certified tax professional or the IRS for any questions on any available tax credits or your tax return.

Wichita & Kansas Tax Credit Saving!

Call Hanna Heating & Air today to take advantage of the Inflation Reduction Act savings for upgrading your home’s HVAC systems. We will be sure to find a qualifying system that is right for your home.

Hanna Heating & Air is the locally owned company homeowners have relied on up across southcentral Kansas for decades. Our company that spans three generations has been trusted to provide quality furnace installations and air conditioning installation since 1983. We operate three locations across Sedgwick, Butler, and Harvey County to best serve Kansas homeowners across the region.

Give us a call today at 316-945-3481 or send us a message online to schedule a free estimate.

Note: The information provided here is given as only general information to help provide understanding for how this tax credit may be applied. For specific tax information and assistance, consult the IRS or a certified accountant.