Some of the most notable headlines from the new landmark legislation passed last month is the tax incentives to electrify homes. In the form of tax credits, tax rebates, and annual tax write-offs; a number of incentives to upgrade to energy-efficiency appliances, renewable energy and more electrification of buildings from homes to businesses. The bill also contains several changes to the taxation of real estate and new building and energy code requirements which, according to the NAHB, threaten to raise housing costs. So what is in that might benefit you? Well if you were considering making some updates to your appliances, HVAC system, or were toying with adding solar panels; now might be the best time to take advantage of some of those incentives. See “heat pumps” below for a new technology that is now outselling furnaces for the preferred and trending HVAC system.
The reason cited—less competition.
Here’s a big stat, the largest geographic region to see an increase in buyers was, well you guessed it, the MidWest with an increase from 40% to 51%!