Save a Ton with 4th of July Appliance Deals
It’s a great time to shop for a new energy savings appliance. In our house, we’re taking the plunge and going big with a geothermal heat pump to replace our current heating and cooling system. A heat pump is no small purchase, but the savings on our National Grid electric bill will be worth it. Luckily there are more than just seasonal deals to help us cover this cost. So, let’s shop July 4 NY Energy Saving Appliances.
How To Shop Energy Saving Appliances
An easy way to start shopping is by checking out EnergyStar.gov. This is because, to get the federal tax credit, your appliance will likely have to be EnergyStar rated. In my case, looking for a geothermal heat pump, I found a ton on EnergyStar.
A DIY mini-split heat pump is going to be your cheapest option. However, with a home a little over 2,000 square feet, we really need a whole house unit. Because of our needs, until we get a professional to price out the job, I’ll be going off estimates for installation.
How To Save on New Energy Saving Appliances
When you go for maximum efficiency with a new appliance or home update, there are several ways you can save a few dollars.
Firstly, make sure you check out the Energy Efficient Home Improvement Credit. This program saves up to 30% on projects and appliances. From A/Cs to water heaters to windows or doors, you can get a credit on your tax return when you follow the guidelines of the programs. When you do your taxes, just make sure you fill out Form 5695.
Secondly, there are state incentives for heat pumps. Specifically, it’s the NYS Clean Heat Program for rebates through your utility. In our case, that’s National Grid. Under this program, rebates are available for many geothermal heat pumps and heat pump water heaters. For a geothermal heat pump, we can get $1,500 per 10,000 Btu/h.
How Much Could You Save?
According to Forbes.com, the average cost of a geothermal system is $24,500. After the federal tax credit of $2,000 and state rebate of $7,000, the cost tallies up to $15,500. Compare that cost with the average cost of A/C plus furnace, which is about $10,600, according to Forbes.com.
Keep in mind that the geothermal heat pump will cost less to run than a new furnace and A/C. In fact, it could save you about $637 per year. Even better, it helps New York move towards its green energy goals.
There are plenty of deals available for energy saving appliances if you’re not ready to drop the cash for a heat pump this July. Keep in mind that if you don’t find the right deal in a 4th of July sale, Amazon Prime Day is right around the corner.
For more news on energy saving appliance deals or other more NY electricity information, visit us at https://www.nyenergyratings.com.