Articles Tagged with ''tax credits''

The Chicago area is one of the markets seeing an increased interest in geothermal systems from businesses and institutions like schools and governments.

As IRA money starts flowing, HVAC contractors await details on what qualifications they may need to participate in state-managed rebate programs.

As heat pump technology advances and begins its march into colder climates, industry experts are expecting rooftop units to continue to gain popularity in both new construction and retrofits.

With the geothermal market enjoying an enormous surge in popularity due to financial incentives and its reputation for sustainability, now is the time for contractors to strike while the iron is hot and add geothermal to their offerings.

There are numerous factors for this trend, including energy efficiency, government incentives, and technology improvement. But HVAC contractors are still the boots on the ground in this electrification mission.

While the installation of heat pumps may seem to be slowing due to inflation and rising interest rates, coupled with a confusing rollout of federal funding, they are expected to pick up speed this year.

Rebate programs associated with the Inflation Reduction Act for the purchase of high-efficiency HVAC equipment are finally picking up steam, after a near year and a half since the IRA was signed into law.

California, New Mexico, New York, and Hawaii are the first states to apply for federal rebate money for high-efficiency equipment. Twenty-three states have received funding to set up and manage rebate programs.

As the federal government plans millions in grant funding to boost heat-pump manufacturing in the U.S., a big player in the market as well as a newcomer are thrilled with the opportunity.