Rebates & Tax Credits
Rebates
What Are Rebates, and How Do They Help You?
You may or may not have heard about the many rebates available throughout the year on making your home more efficient and comfortable. We’ll do our best here to explain a few of them.
Manufacturer Rebates
Throughout many times during the year, Lennox and other manufacturers will offer rebates in order to entice homeowners to move forward with purchasing comfort systems from their dealer of choice. Lennox is our primary manufacturer that we recommend, and they always bring the best rebates. Typically, you can choose from Cash Rebates, Extended Warranties, or Extended Financing Options. Most of our customers choose the cash rebates, and these are simple cash back rebates that equal at times up to $2,000 depending on the different options you have available. From Solar installations, to the highest efficiency air conditioners, furnaces, and air quality products, you can depend on getting the best from Air Assurance and Lennox. By the way, we take care of all the paperwork for you, so there is no doubt or hassle in getting the rebates you choose!
Utility Rebates
Public Service Company of Oklahoma (PSO) along with Oklahoma Natural Gas (ONG) are providing HUGE rebate opportunities for home efficiency upgrades. PSO offers up to $5,000 off the total invoice amount when you complete three or more upgrades at once. Qualifying upgrades include comfort system replacement, insulation upgrades, home and duct sealing, window replacement, and more. You can read more about the Home Performance program here. ONG is paying up to $1950 to switch from Electric to Gas Heating. They also have monies set aside for high efficiency furnace upgrades, high efficiency water heating upgrades, high efficiency gas dryer upgrades, as well as rebates to service your furnace during the heating season. OGE, Verdigris Valley, and other outlaying utility companies also offer rebates in their service areas. Again, Air Assurance does all the work for you to make sure you get the maximum rebate possible with no hassles! Air Assurance has given more utility rebates than any other HVAC company in Oklahoma and for doing so has received the Department of Energy’s Century Club award for over 100 projects completed (more than anyone in the state), as well as being honored by PSO as their Partner of the Year! Let us get you the MOST Rebates!
Air Assurance Rebates
From time to time, Air Assurance joins in on the fun. Whether it’s a current promotion, product spotlight, or a celebration special, Air Assurance has participated in many instant rebates. These include specials such as the “Free Air Conditioner Promotion” which can save you up to $2500 during the months of January and February. Tankless Water Heater Promotions are also on the radar for 2020 so ask for details.
All these rebates and more can be clearly explained by your Air Assurance representative. Just call us to set up your free, no obligation consultation to explain all the opportunities and options for making your home more comfortable and energy efficient at the most affordable cost ever!
Tax Credits
What are Energy Tax Credits, and How Do They Help You?
In December 2019, Congress passed legislation that renewed the tax credits for 2020 and made them retroactive back to 2018. For qualified HVAC improvements, homeowners may be eligible to claim the federal tax credits equal to 10% of the installed costs, and a maximum credit of $500.
All these rebates and more can be clearly explained by your Air Assurance representative. Just call us to set up your free, no obligation consultation to explain all the opportunities and options for making your home more comfortable and energy efficient at the most affordable cost ever!
Then on August 16, 2022, the U.S. government signed into law the Inflation Reduction Act (IRA) in an effort to reduce greenhouse gas (GHG) emissions by 40% by 2030. The most meaningful impacts to the HVAC industry were in two key areas.
- Energy Efficient Home Improvement Tax Credit (25C)
- High Efficiency Electric Home Rebate Program (HEEHRP)
Through the Inflation Reduction Act, you will have access to cost-saving options when purchasing energy-efficient and electric appliances or making home improvements to electrify your home or increase its energy efficiency through these programs. If you have specific heating and air conditioning questions you would like to have answered, please contact us via e-mail at [email protected], and one of our trained staff members will respond to you as quickly as possible.
Who can use these energy tax credits?
This must be an existing home and your principal residence. New construction and rentals do not apply. A principal residence is the home where you live most of the time. The home must be in the United States. It can include a house, houseboat, mobile home, cooperative apartment, condominium, and a manufactured home.
Energy Efficient Home Improvement Tax Credit (25C) Program
The previous Nonbusiness Energy Property credit (25C) for installing high-efficiency equipment was extended through 2022 and provides federal tax credits of up to $500.
The amended Energy Efficient Home Improvement Credit (25C) begins in 2023 and extends through 2032. It increases the tax credit limits for high-efficiency equipment as follows:
- Eligible equipment includes:
- Heat pumps and heat pump water heaters
- Energy-efficient HVAC systems (including furnaces, boilers, and central AC)
- The 25C credit has an annual cap of $1,200 (except heat pump):
- Up to $600 each for a qualified air conditioner or gas furnace, with an annual cap of $1,200
- Up to $2,000 with a qualified heat pump, heat pump water heater, or boiler
There are no income requirements for this tax credit, and it cannot be combined with other federal programs.
High-Efficiency Electric Home Rebate Program (HEEHRP)
The U.S. government appropriated $4.5B of funds for the High-Efficiency Electric Home Rebate Program (HEEHRP) and will distribute the funds to state energy offices to administer the rebate program.
- HEEHRP provides HVAC rebates up to $14,000 per household, including:
- Up to $8,000 for installing Energy Star® qualified heat pumps
- Up to $4,000 for electrical panel upgrades
- Up to $1,600 for home insulation and sealing
- Up to $2,500 for home electrical wiring improvements
- Eligibility and the amount of the rebate depends on household income:
- For households below 80% of area median income, 100% of the system purchase price qualifies for the rebate.
- For households that fall within 80% to 150% of area median income, 50% of the system purchase price qualifies for the rebate.
- Households above 150% of area median income do not qualify for the HEEHRP rebate.
The duration of the program will depend on the funds available within each state and the number of rebates distributed.
