The Bipartisan Budget Act of 2018 lives on, but at least one component of it is nearing competition. Tax credits for residential geothermal heat pumps cease in 2022, and Sensible Heating & Cooling wants to help you act upon these savings while they last.
If you’re considering ways to reduce your carbon footprint, increase energy-savings and boost the re-sale value for your home, heat pumps might provide the innovative solution you’re after. Far less complex then the name implies, heat pumps – or air source heat pumps (ASHP), as they’re called, make for extremely efficient and cost-effective heating and cooling solutions for homes of all sizes. By leveraging a home’s air conditioner, an ASHP converts cool outside air into warm inside temperatures in winter, and reverses the cycle in summer. Under the right conditions, ASHPs can reduce home-heating/cooling expenses by an estimated 50 percent, while delivering up to three times more heat energy than electrical energy consumed by the system.
If your home is outfitted with solar panels, combined with the benefits with ASHPs, the systems can work in tandem to heat and cool a home, ultimately making ASHPs an inexpensive system to operate. The combo takes you one step closer to achieving a reduced carbon footprint and solid return on your investment. Sensible is one of few HVAC companies in the Metro Area with the experience necessary to install heat pumps for residential solar.
Now through Jan. 1, 2021, through the Bipartisan Budget Act of 2018, available tax credits for ASHPs are set at 26 percent. Beyond this date, credits decrease to 22 percent until Jan. 1, 2022, when the offering is permanently terminated. To be eligible for the remaining deductions, ASHP installation must commence within the 2020 and/or 2021 calendar years.
If you’re considering geothermal for your home, reach out to Sensible at 720-876-7166. We always conduct complimentary consultations to determine if geothermal is right for your home.
About Sensible Heating & Cooling
Sensible Heating & Cooling is Denver’s Premier Heating & Cooling Company, offering a wealth of experience and knowledge in traditional HVAC, as well as alternative systems such as geothermal, heat pumps and boilers. To learn more about Sensible and to take our virtual estimate survey, visit http://sensibleheat.net/.