Federal Tax Incentives and Co-op Rebates – 2024

Tax Incentives and Rebates for HVAC Systems – 2024

Tax Incentives

What are tax incentives and rebates in the world of HVAC? The federal government values the long term positivity of energy efficient technology in residential homes and commercial buildings. Due to this, the IRS has introduced a program where you can claim money if you purchase and install an energy efficient HVAC system such as a heat pump or particular AC unit.

In terms of the equipment, you can claim up to $2000 in money back when tax season rolls around. Below, we will educate you on where to go to claim this tax relief and what type of systems are valued by the federal government.


What are rebates in the HVAC world? Rebates are a useful tool to incentivize people to install energy efficient HVAC systems in your residential home or commercial building. Instead of being tax based and ran by the federal government, the rebates are rewarded by specific electric companies or Co-ops.

These groups also place high value on energy-efficient HVAC systems and want to assist buyers in financially affording these types of systems. Below, we will review more details on the types of units that are associated with rebates as well as the companies who offer them in our area.

Laurens Electric Logo
Broad River Electric Coop
Duke Energy Company
Little River Electric Coop
Haywood EMC Coop

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Haywood EMC Coop

Haywood EMC Co-op – Haywood Electric does not provide rebates to its members currently. The offerings may change over time. Make sure to look again when you are planning on purchasing a new unit. For more information from Haywood, click the logo to go to their webpage.

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Laurens Electric Co-op – Laurens Electric offers rebates for installing energy-efficient systems such as heat pumps and AC units. Residential members can receive significant financial incentives to make their homes more energy-efficient. Earn rebates on Duct Work, Heat Pumps, Attic Insulation, AC and more. Click the logo to see your savings.

Laurens Electric Logo
Letters that say Duke Energy

Duke EnergyDuke Energy supports the installation of energy-efficient HVAC systems through various rebate programs. These incentives aim to make eco-friendly technology more accessible to residential customers.

Little River Co-opLittle River Electric Cooperative currently does not offer specific rebates for HVAC systems. However, they are committed to promoting energy efficiency among their members. They provide resources and tips on energy efficiency to help members save on utility bills. Visit their website for updates.

Little River Electric Coop
Broad River Electric Coop

Broad River Co-opBroad River Electric Cooperative does not have direct HVAC rebate programs but offers various resources and tips on energy efficiency. They provide educational resources and initiatives to help members improve their home’s energy efficiency. They have initiatives like the Smart House to demonstrate energy-saving technologies. Check their website for more information and updates.

Sometimes we don’t pay attention to the things we are subscribed to or what companies we use as consumers. With that being said, if you’re unsure what Electric company or co-op you use, this tool might be helpful in figuring out – The Electric Cooperatives of South Carolina. This resource is great for residents of South Carolina. You can learn more about electric Coops of South Carolina on this page! For North Carolina residents looking for more information on energy efficiency and cooperative rebates visit NC Electric Cooperatives. This resource provides valuable information on local electric cooperatives and their initiatives to help you save energy and reduce costs.

Randy Coffey Working On A Cooling System

Summary on Rebates

Rebates are provided by specific electric companies or cooperatives.

Eligibility varies by company, but typically includes energy-efficient systems like heat pumps and AC units.

Potential savings can be substantial, helping to offset the initial cost of new installations.

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    Federal IRS Tax Incentives HVAC
    Tax Credits And Rebates

    Tax Incentives Summary

    • Qualifying systems include air-source heat pumps, central air conditioners and more through the IRS.
    • Homeowners can claim up to 30% of the cost of the equipment and installation.
    • Designed to make eco-friendly upgrades more affordable and promote energy efficiency in residential homes.
    • Tax credits can be claimed when filing your federal income tax return.
    • Keep all receipts and documentation related to the purchase and installation for tax purposes.
    • Long-term savings on energy bills due to increased efficiency.
    • Contribution to environmental conservation efforts by reducing carbon footprint

    Keep Your Family Comfortable


    Rebates and tax incentives play pivotal roles in promoting the adoption of energy-efficient HVAC systems. Local electric cooperatives like Laurens Electric, Haywood Electric, Little River Electric, Duke Energy, and Broad River Electric may offer rebates that can substantially reduce upfront costs for installations such as heat pumps and AC units. Currently, Laurens and Duke offer rebates to our knowledge. Companies change their policy over time so make sure to monitor their offerings.

    These incentives not only help homeowners save on energy bills but also provide financial rewards for choosing energy-efficient options. Simultaneously, federal tax incentives offer up to $2,000 in credits for qualifying HVAC upgrades in 2024, encouraging long-term energy conservation and environmental benefits.

    To take advantage of these incentives, homeowners must ensure their systems meet IRS energy efficiency standards and claim these benefits when filing their federal taxes. Together, these programs make upgrading to energy-efficient HVAC systems more accessible and cost-effective. Look into stacking rebates and tax incentives if you can!