The Inflation Reduction Act (IRA) is a historic act that is being implemented and is aimed to curb inflation in a number of ways, including lowering prescription drug costs, reducing the economic deficit, and also investing in domestic energy production while encouraging clean energy.
This act has been called “the most aggressive action on tackling the climate crisis” and experts anticipate that it will create jobs in clean energy, make the federal and local tax codes fairer, give a boost to American manufacturing, and lower healthcare costs as well. Keep reading as we dive into how this will impact you as an HVAC customer.
This Change Matters: Here’s Why!
As you might have figured out on your own, when it comes to the services and products that we provide here at Meyers, our interests lay primarily in the energy savings that homeowners throughout Boulder, CO and the surrounding areas we serve will receive through the IRA.
We think this change matters now more than ever because of another update that is being made in the clean energy space: starting January 1st, 2023, there will be an update called SEER2, which will raise the minimum efficiency standards for the manufacture of air conditioners and heat pumps. SEER stands for Seasonal Energy Efficiency Ratio, and the US Department of Energy has implemented this update.
What you need to know is how much this change will affect the costs to purchase and install new home comfort systems, especially heat pumps and central air conditioners. This sounds like potential bad news: however, this will help create more energy-efficient homes, contribute to clean energy initiatives, and create an overall better environment and opportunity for energy savings.
Still, we do want our customers to be aware of the increase in equipment costs and continuing equipment shortages that will occur due to the SEER2 update. The good news is that the IRA is going to lower costs for you, through rebates as well as clean energy tax credits.
If you’ve been considering an air conditioning replacement, the time to do so is now!
In our region, we will be allowed to sell the rest of our stock of lower-efficiency HVAC systems beyond January 1st, but that inventory will be limited, and manufacturing of these systems will be halted completely as of the new year.
The biggest question we’ve been getting from consumers these days is “How much can I save with the Inflation Reduction Act?” This will depend on your area, but you can find more specific answers by following these links:
Don’t forget to ask about our financing options. We know that your HVAC systems are already a huge investment, and these updates can seem scary and confusing. Our team is here to help—everyone deserves the best in home comfort!
Contact Meyers Heating & Air Conditioning today to schedule an appointment with our professionals or to get more answers about these updates.