HVAC Financing in Colorado – How to Save Money on HVAC Costs
Heat Pump Installation in Colorado - Learn More
As the temperature drops during Colorado Winters, the value of a reliable HVAC system becomes even more evident. Beyond ensuring your home stays comfortable, there are substantial financial incentives and financing options available for those looking to upgrade - such as the killer heat pump tax credit that residents are jumping at!
Let’s explore the details of these Colorado tax credits, the qualifications, and the additional incentives tied to specific advancements. Discover how McCormick Heating and Cooling not only keeps you informed about these opportunities but also provides flexible HVAC financing solutions to make your HVAC upgrade journey smooth and affordable. Let's dive into the possibilities of creating a more efficient, cost-effective, and eco-friendly HVAC experience tailored to the unique needs of Colorado living.
The New Heat Pump Tax Credit for Heat Pump Installation in Colorado
Colorado residents investing in qualified energy-efficient home improvements after January 1, 2023, stand to benefit from a tax credit of up to $3,200, applicable for improvements completed through the year 2032. Additionally, the state currently extends a 10% rebate on the installation cost of heat pump equipment, and recent legislation has extended this rebate program through 2024.
Moreover, the legislation introduces new incentives based on what’s installed. Residents opting for an air-source heat pump can earn themselves a one-time $1,500 tax credit from 2024 to 2026. Subsequently, this credit decreases to $1,000 until 2029 and further reduces to $500 by the end of 2032.
Who Qualifies for the Tax Credit?
This Colorado tax credit is available to any resident of the state who made the investment between 2024 and 2032. To qualify, individuals must be principal residence owners, with upgrades limited to existing homes used as their primary residence.
This credit does not apply to new construction or rental properties.
A principal residence, as defined, includes various housing types such as houses, houseboats, mobile homes, cooperative apartments, condominiums, and manufactured homes, as long as they are situated within the United States.
These initiatives encourage homeowners to invest in energy-efficient improvements while providing financial incentives to support the adoption of environmentally friendly technologies.
Our HVAC Financing Options
We understand that issues with your HVAC system often arise unexpectedly, causing unforeseen financial challenges. In an effort to alleviate this burden, we provide convenient financing options for your upcoming service or replacement needs.
To explore these options and initiate the credit application process, click here to get started! Taking this step ensures that you can address your HVAC concerns quickly while managing your budget effectively.
Your comfort is our priority, and we aim to make your HVAC service experience as seamless and stress-free as possible. Have any questions about our HVAC financing options? Give us a call!
McCormick Heating & Cooling - We’re Here to Help!
Colorado’s climate requires a reliable HVAC system, and the state offers enticing incentives to make your home more energy-efficient. From the substantial tax credits available for energy-efficient improvements to the extended rebates for a heat pump installation, there has never been a better time to invest in the comfort and sustainability of your home.
At McCormick, we not only keep you informed about these opportunities but also provide flexible financing options to ensure that you can take full advantage of the benefits. Our commitment extends beyond efficient heating and cooling—we're dedicated to making the entire process, from upgrades to financial considerations, as smooth and accessible as possible.
If you have any questions about the heat pump tax credit or are ready to get started...
