IRS Information On Tax Credit For HVAC Upgrades Effective Jan. 1 Now Available

The federal Internal Revenue Service has published guidance on home efficiency tax credits offered under the Inflation Reduction Act.

These federal credits are available for qualified HVAC systems and building envelope components placed into service beginning this Sunday, January 1, 2023.

This includes a $600 credit for oilheat appliances that meet 2021 Energy Star® criteria and are designed for use with certain biofuel blends.

Government websites are omitting this information. So, it is on the industry to get the word out.

This should be done ASAP, especially since it will take some time for the IRA’s new residential electrification (e.g., “heap pump”) rebates to roll out.

Click Here to read an NEFI Regulatory Alert for details and a link to the IRS document.

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