Want to save on your Long Island heat pump installation or HVAC upgrade in 2023? Some excellent incentive programs are available to help you install a new heat pump or high-efficiency HVAC system in Brookhaven, Islip, Babylon, and everywhere else in Nassau and Suffolk County.
Home Efficiency Experts is Long Island’s go-to HVAC contractor for high-efficiency heating and cooling. We stay on top of local and federal rebate programs to help you save as much money as possible on your heating or air conditioning installation.
Energy Efficiency Tax Credit for Heat Pumps & More
The Inflation Reduction Act of 2022 introduced a new 30% tax credit for energy-efficient HVAC systems. The Energy Efficient Home Improvement tax credit is often referred to as a heat pump tax credit, but many types of HVAC systems are eligible, including:
- Heat pumps and heat pump hot water heaters
- Ductless mini split heat pumps
- High-efficiency furnaces and boilers
- High-efficiency central air conditioners
- High-efficiency hot water heaters
The tax credit is a one-for-one reduction on your federal income taxes, and it’s worth 30% of your total installation costs. There is a $600 maximum for high-efficiency furnaces, boilers, air conditioners, and water heaters and a much higher $2,000 maximum for electric heat pumps and mini splits and heat pump water heaters.
This tax credit also extends to energy efficiency upgrades including insulation and air sealing. Our team can help walk you through the details and maximize your savings!
Inflation Reduction Act Heat Pump Rebates
There are rebates for heat pumps and mini split heat pumps through two new Inflation Reduction Act rebate programs.
Inflation Reduction Act HOMES rebates are performance-based and can include insulation, air sealing, and other weatherization upgrades in addition to hot water heater and heat pump installation. The HOMES rebates are worth up to $2,000 for homes with 20-34% modeled energy savings and up to $4,000 with 35% or higher modeled energy savings. Low and moderate-income households are eligible for even higher rebates—as much as $8,000!
High Efficiency Electric Home Rebates
The High Efficiency Electric Homes rebate program is for low and moderate-income households. It includes a heat pump rebate worth up to $8,000 and a heat pump water heater rebate of up to $1,750.
HOMES and High Efficiency Electric Home rebates are expected to be available to the public soon. Home Efficiency Experts is actively working to ensure our customers will be able to maximize their Inflation Reduction Act rebates when they become available and we will be providing updates as more news is announced about these fantastic incentives.
PSEG offers some excellent heating and cooling rebates in Glen Cove, Port Washington, Oceanside, Plainview, and throughout all of Long Island.
PSEG Long Island Heat Pump Rebate
Cold-weather heat pumps work in below-freezing temperatures and are perfect for Long Island homes. They work as a heater and air conditioner in one so you can use your heat pump year-round for energy efficient home comfort. PSEG Long Island heat pump rebates covers ducted heat pumps and ductless mini split heat pumps. Rebate amounts vary by model.
Installing a smart thermostat is a simple and highly effective way to improve your home’s efficiency and lower your energy bills. If you have central air conditioning and install a qualifying smart thermostat, you can get an $85 rebate from PSEG.
How to Qualify for PSEG Long Island Rebates
To qualify for PSEG heating and cooling rebates, you must be a PSEG Long Island residential customer and include proof of purchase with your online rebate submission. You may receive an instant in-store discount at the time of purchase or a rebate after purchase, depending on the product you choose.
Save on Your HVAC Upgrade with Home Efficiency Experts
Confused about HVAC rebates and incentives? We don’t blame you! Navigating rebate programs can be challenging, but Home Efficiency Experts is here to help. We stay on top of all current rebate and incentive programs and will help you choose qualifying equipment when you upgrade your home. We install all types of high-efficiency HVAC equipment, including ENERGY STAR® systems, cold-weather heat pumps, and ductless heat pumps for homeowners in Suffolk and Nassau County.