WEST PALM BEACH, Fla. — Floridians can now save more than $3,000 through tax credits from the Inflation Reduction Act and Florida Power & Light rebates when investing in energy-efficient equipment.
It's only March and temperatures in South Florida are already heating up.
Sara Fuquay told WPTV when she's not spending time during the summer months at the City Paws Dog Park in West Palm Beach, she's at home cranking up the air conditioning.
However, that gets expensive.
"Everything is getting more expensive. I don't know if there's anything that can be done," Fuquay said. "Not turning the AC up quite as much, maybe a little bit more visits to the beach, you know, that kind of thing."
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Thankfully, just in time for summer, homeowners will soon be entitled to some energy-saving tax breaks through the Inflation Reduction Act.
"They have the ability to get some tax credits on purchasing several items," David King, an FPL energy expert, said.
Those items include:
- Air source heat pumps: Homeowners can claim 30% of the cost with a max of $2,000
- Heat pump water heaters: Homeowners can claim 30% of the cost with a max of $2,000
- Central air conditioners: Homeowners can claim 30% of the cost with a max of $600
- Insulation: Homeowners can claim 30% of the cost with a max of $1,200
- Windows and skylights: Homeowners can claim 30% of the cost with a max of $600
- Exterior doors: Homeowners can claim 30% of the cost with a max of $500 ($250 per door)
- Electric panel upgrades: Homeowners can claim 30% of the cost with a max of $600
- Certified energy audit: Homeowners can claim 30% of the cost with a max of $150
You will need to claim these items when you file your taxes next year.
On top of that, King said homeowners are entitled to several FPL rebates too.
"That would be air conditioning, heat pumps and/or ceiling installations for their attics. So, we have the ability to check out their attic installation for FPL and see if they qualify for up to $200 toward the job," King said. "And we have a rebate for air conditioning of $150 for a 16 efficiency or higher."
For the ceiling insulation rebates, King said your home's insulation must have a current R-value of less than R-8 to receive a rebate and you must provide access to all attic space in order to determine rebate eligibility.
For the air conditioning rebate, you're AC must be a completely new system, including both indoor and outdoor units. It must be a 16 SEER or 15.2 SEER2 rated and above.
It must be installed by a Participating Independent Contractor (PIC). To find a PIC and see if you qualify, visit FPL.com/programs.
The Inflation Reduction Act tax credits are available for 10 years, so homeowners can receive the same amount each year through 2023.