Home electrification is gaining traction, and the recent "Remodeling 2023 Cost vs. Value Report" (https://www.remodeling.hw.net/cost-vs-value/2023/key-trends-in-the-2023-cost-vs-value-report) shows that electric heat pumps retain 103.5% of their value at resale.
In addition, the Inflation Reduction Act of 2022 incentivizes people to convert to heat pump technology.
Your clients may be able to tap a tax credit of up to 30% of the cost of buying and installing a heat pump.
To get ready for homeowners’ questions, you can familiarize yourself with heat pumps and how they work and the incentives available for switching from oil or gas furnaces to electric heat pumps.
- Energy Star (https://www.energystar.gov/about/federal_tax_credits/air_source_heat_pumps)
- Rewiring America (https://www.rewiringamerica.org/IRAguide) and
- U.S. Department of Energy/ Office of Energy Efficiency & Renewable Energy (https://www.energy.gov/energysaver/heat-pump-systems)
- The White House (https://www.whitehouse.gov/cleanenergy/inflation-reduction-act-guidebook/0)