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Respected Contributor
PickyPicky3
Posts: 3,031
Registered: ‎10-22-2018

2023 Energy Savings Programs

[ Edited ]

‎02-22-2023 10:38 AM - edited ‎02-22-2023 11:10 AM

My heat pump just died -- in the warmest February weather I can remember. My head is spinning trying to understand the 2023 tax programs. The programs are really good; the rollout - terrible. So this is an alert in case anyone is planning to replace HVAC or do other energy-saving work.

 

There are two programs: the tax credits and the rebates. You can use both. The Federal tax credit program (not income deductions) will be the same for everyone in the USA. It's based on using Energy Star materials and is pretty much in place for your 2023 tax return  ( April 2024).

 

The rebates are handled by individual states. They are dependent on your AMI (Area Median Income) and your personal yearly income. Not just low income. BUT mostly they aren't ready yet. AND right now will NOT be available retroactively if, like me, your heat pump dies before the regulations are finalized. 

 

So, if you're planning on replacing your HVAC or doing other energy projects, better to wait for your state to complete its program. Of course at that time every contractor in your area will become booked through the decade.

 

Just passin' this on.

 

 

 

 

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