If you'd like to upgrade your home heating and cooling system with an energy-efficient heat pump, several government programs exist to help — and more will be coming next year.
Why it matters: Electric heat pumps use far less electricity than conventional electric heating, and don't burn fossil fuels like natural gas-powered furnaces or boilers.
- That makes them important tools for curbing greenhouse gas emissions that drive climate change, state and federal officials say.
Yes, but: Installing a heat pump isn't cheap, costing somewhere between $7,000 and $15,000 on average, the state Department of Commerce estimates.
- Updated state building codes will soon encourage heat pumps in new construction in Washington — but with older buildings, it generally will be left up to owners when (and whether) to make the upgrade.
Here's a look at some financial assistance programs that can help.
Local programs
Seattle City Light customers can get rebates of $300 to $500 to help with installing a heat pump. More is possible if you're replacing an oil-burning furnace.
Meanwhile, if you use Puget Sound Energy, you could qualify for up to a $4,000 rebate.
Plus: On the Eastside, residents of Redmond, Bellevue, Issaquah, Mercer Island and Kirkland can qualify for another $1,500 for a heat pump upgrade.
Federal tax credits
Through the federal Inflation Reduction Act, you can get a $2,000 tax credit if you install a heat pump through Jan. 1, 2033.
- Homeowners can also get another $1,200 for energy efficiency improvements such as upgrading insulation.
Reviewing and optimizing the properties you own is an essential part of being successful in real estate - and energy usage is part of this!
