rebate income determination

Forum|Forum|3 years ago
September 28, 2022
1 reply
0 views

the inflation reduction act includes rebate provisions that are based on income. how will that income be determined? e.g. for a heat pump installed in 2023, will it be my 2023 income that matters or my 2022 income?

johnd84

Hi there. Thanks for your question!

The rebates and income amounts are state specific. I'm assuming it's for 2023 income. Could you tell me what state you're in? https://https://www.consumerreports.org/appliances/heat-pumps/heat-pump-federal-tax-credits-and-state-rebates-a5223992000/www.consumerreports.org/appliances/heat-pumps/heat-pump-federal-tax-credits-and-state-rebates-a5223992000/

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"

anonymous17Author

i would be happy with an answer which applies to any state. but texas would be the most helpful.
in any case, i believe heat pump rebates are subject amounts and income limits at the federal level regardless of which state you're in as per this section of the bill:
https://www.congress.gov/bill/117th-congress/house-bill/5376/text#H4D43FABFB4F9495C8A601D9A2C780ADC

i can quote the key points:
(c) High-Efficiency Electric Home Rebate Program.—
(ii) not more than $8,000 for a heat pump for space heating or cooling; and

(A) in the case of an eligible entity described in subsection (d)(1)(A)—

(i) 50 percent of the cost of the qualified electrification project for a household the annual income of which is not less than 80 percent and not greater than 150 percent of the area median income; and