Inflation Reduction Act Hvac 2024 Update. Explore the inflation reduction act's incentives for upgrading your hvac system. 16, 2022, president joseph r.

For property placed in service before january 1, 2023, the deduction is capped at $1.80 per square foot. Homeowners can qualify for a tax credit of 30% for the purchase and installation of a qualified heat pump, up to $2,000.