Virginia HVAC & Plumbing Rebates and Incentives in 2024
09/30/24
Installing energy-efficient fixtures and appliances can really pay off. Not only can you save on your energy bill and shrink your carbon footprint, but you can also get money back when you apply for tax credits and rebates.
Below, we will look at federal and state incentives and energy provider options to help offset the cost of your home improvement upgrades.
Expert service you can trust. Schedule HVAC installation in Virginia by contacting Caffi Services.
Federal HVAC Tax Credits
Federal home improvement tax credits are available through the IRS. Based on the Inflation Reduction Act, they apply to energy-efficient home improvements after January 1, 2023, through 2032.
The qualifying tax credit is for up to $3,200. Use the IRS link to learn more, and use Form 5695 for the Residential Energy Credits to claim your tax credit.
Eligible property includes:
- Central air conditioning
- Water heaters (oil, propane, natural gas)
- Furnaces and hot water boilers (propane, oil, natural gas)
- Certain natural gas and electric heat pumps and heat pump water heaters, boilers, and biomass stoves (thermal efficiency rating, up to $2,000)
Federal Energy-Efficiency Rebates
With two programs available, try the Electrification and Appliance Rebate Programs. Open to low- to moderate-income households, appliance rebates for heat pump water heaters and air-source heat pumps are determined by state energy offices.
States can apply for the Home Efficiency Rebate Program, which will be available in 2025. Energy-efficient rebates are for upgrades that lower energy usage by 20% for ENERGY STAR® certified brands. There are no income limitations.
Virginia Energy Provider Rebates and Incentives
Virginia homeowners making upgrades can access utility rebates, incentives, and programs. However, availability can vary by location.
Explore rebates and incentives through:
- Charlottesville Gas offers a rebate of up to $100 for upgrading to a smart thermostat.
- Dominion Energy offers a smart thermostat rebate to homeowners who upgrade to an ENERGY STAR® certified smart thermostat. You can also get an instant rebate by purchasing a smart home kit.
- Search Virginia Energysense to filter through rebates and incentives you may qualify for.
Who Qualifies for Virginia HVAC Rebates?
You must be the homeowner to qualify for the IRS home improvement credit. The home must be an existing home located in the U.S. and serve as your primary residence.
You are not eligible for the credit if the property is solely for business use. If your business usage is up to 20%, you can receive the full credit. If it’s over 20%, the credit is determined by the allocated share of expenses for nonbusiness usage.
Exclusions for the tax credits and rebates include:
- Commercial properties, but there are other tax deduction alternatives
- Households that earn over 150% of their area’s median income
- Retroactive incentives prior to the Inflation Reduction Act are not permitted
- Applying for and using multiple same system federal credits is not allowed
- New construction as the rebates are for existing homes, but try home builder tax credits
Caffi Services Can Help You Find Savings
If you are renovating an existing property, talk to our teams about the best tax credits and rebates for your project. This way, you can keep your home comfortable year-round, boost your property value, and make a sound investment.
Backed by over 50 years of industry-leading experience, Caffi Services provides free estimates on replacements, and we have flexible financing plans.
Schedule HVAC or plumbing installation in Virginia and ask about online specials and other ways to maximize your savings.
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