By now, you’ve heard of the Inflation Reduction Act–a historic act implemented this year that aims to curb inflation by reducing the deficit, lowering prescription drug prices, and investing in domestic energy production while promoting clean energy.
The Inflation Reduction Act is anticipated to be the most aggressive action on tackling the climate crisis and is expected to create clean energy jobs, make the tax code fairer, re-energize American manufacturing, and lower healthcare costs overall too. Read on as we uncover how this impacts our HVAC customers!
Why This Matters Now More than Ever
As you can probably guess when it comes to the products and services we provide, we’re most interested in the energy savings homeowners throughout Colorado Springs and beyond can receive through the Inflation Reduction Act.
The reason this matters now more than ever is that in just a few short months, there is going to be an update to the minimum efficiency standards called the SEER2 (SEER stands for Seasonal Energy Efficiency Ratio) update for air conditioners. The US Department of Energy is implementing this update, and it will drastically impact the costs to purchase and install new home comfort systems such as air conditioning and heat pump systems, while also helping create energy-efficient homes and contributing to clean energy initiatives.
The update is meant to help create a better environment and more energy savings overall, even including energy conservation for EV charging and creating energy-efficient commercial buildings.
While the biggest impact on consumers is an increase in equipment costs and resulting equipment shortages, this is still good news in many ways–the inflation reduction act means that you’re going to see lower costs through rebates and clean energy tax credits.
This also means, however, that now is the time to replace your air conditioner if you were already considering doing so. We’ll be able to sell the rest of our stock of lower-efficiency air conditioners and heat pumps beyond January 1, 2023, but starting then manufacturing will stop for lower SEER systems.
Naturally, our customers have questions! Assessing how much you can save with the Inflation Reduction Act (IRA) will be dependent on what state you are in, but you may be able to start saving as soon as now, and most tax credits thereafter will be available starting January 1, 2023. Here are some helpful links that may answer some of the most common questions we get:
We’re Here to Help!
We know that your HVAC systems are already one of the biggest investments you make for your home–and we’re here to help. We provide HVAC system financing to ensure that you’re able to keep your family comfortable, healthy, and safe each winter and summer. Please don’t hesitate to contact our team to learn more about the HVAC financing options we provide.
We’re the team you can trust for all your HVAC needs. Don’t let the weather get you down, call Brown’s Heating & Cooling when you need exceptional service.