Johnson Controls helps homeowners maximize higher-efficiency HVAC savings, including Inflation Reduction Act incentives

Rhea-AI Summary

Johnson Controls is enhancing residential energy efficiency by offering financing options and rebates to help homeowners access higher-efficiency HVAC systems. The initiatives align with the Inflation Reduction Act, which allocates $370 billion for climate and energy, aiming to cut energy costs by up to 50%. This program includes tax credits, rebates, and state incentives to substantially lower upgrade costs. Johnson Controls also commits to achieving net-zero emissions by 2040 while supporting customers in reducing their carbon footprint.

Positive

• Homeowners can reduce heating and cooling costs by up to 50% with higher-efficiency systems.
• The Inflation Reduction Act allocates $370 billion for energy initiatives, offering significant savings for HVAC upgrades.
• Johnson Controls aims for net-zero carbon emissions by 2040, reinforcing its commitment to sustainability.

Negative

• None.

• Johnson Controls demonstrates continuing support of environmental sustainability with program designed to increase accessibility of higher-efficiency home comfort equipment
• New Inflation Reduction Act provides opportunity for homeowners to save on upfront costs of higher-efficiency HVAC equipment in addition to financing options, tax incentives and state and manufacturer rebates

MILWAUKEE, Sept. 22, 2022 /PRNewswire/ -- Johnson Controls, the global leader for smart, healthy and sustainable buildings, is making residential energy efficiency more affordable and accessible for homeowners through robust financing options and rebates intended to maximize newly announced savings available through the Inflation Reduction Act. With higher-efficiency HVAC equipment from Johnson Controls, homeowners can reduce their heating and cooling costs by as much as 50% compared to low-efficiency systems.    

Signed into law on August 16, the federally funded Inflation Reduction Act consists of a record $370 billion reserved spending for climate and energy initiatives. It offers homeowners an opportunity to save on the cost of replacing or upgrading their HVAC systems with higher-efficiency equipment that can lower their energy consumption and utility bills while working toward the goal of reducing Americans' carbon footprint by 40% by 2030.

With support from a trusted HVAC contractor and Johnson Controls brands such as YORK^®, Luxaire^®, Coleman^®, Champion^® and Fraser-Johnston^®, homeowners can combine financing options, tax incentives and Johnson Controls rebates to achieve considerable savings and a reduced carbon footprint with a higher-efficiency home comfort system.

"The Inflation Reduction Act provides an unprecedented opportunity for homeowners to significantly reduce carbon emissions while lowering the financial burden of increasing energy costs," said Katie McGinty, vice president and chief sustainability and external relations officer, Johnson Controls. "Energy costs are spiraling, wars are being fought with energy being used as a weapon and severe weather events show the destructive power of climate change. At this difficult time, Johnson Controls is stepping up to support our customers with solutions that cut costs while helping to reduce emissions."

Since 1885, sustainability has been at the heart of the company's business. In 2021, Johnson Controls announced a commitment to reduce absolute Scope 3 emissions by 16% and Scope 1 and 2 emissions by 55% before 2030. The company has also committed to invest approximately 75% of new product R&D in climate-related innovation to develop sustainable products and services, such as transitioning to low-GWP refrigerants and innovations in electric heat pump technology. In addition to helping customers achieve their net zero goals, Johnson Controls is continuing to take significant steps to further its long-standing leadership, including by pledging to achieve net zero carbon by 2040.

To help homeowners take advantage of the clean energy incentives available, Johnson Controls has compiled the latest available resources to help reduce upfront costs and provide savings during tax season.  

Programs to Maximize Savings on Energy-Efficient HVAC Systems:

• Energy-Efficient Home Improvement Credit: The 25C tax credits, which expired on December 31, 2021, have been extended through December 31, 2022, at the previous credit levels and requirements. Beginning with products installed on January 1, 2023, and extending through the end of 2032, new energy tax credits will be available for qualifying equipment, including tax credits up to 30% of eligible expenses or up to $600 per appliance and $1,200 per year (up from 10% and $500 lifetime) and up to $2,000 per year for heat pumps. 
  
  
• High-Efficiency Electric Home Rebate Program:  $4.3B will be available for grants to states to provide rebates for qualified home electrification projects. The grants will provide up to 100% of eligible expenses or up to $8,000 in rebates for eligible households to install heat pumps. Funds will be administered through state energy offices and will run through September 30, 2031.  
  
  
• State and Local Rebate Programs: Rebates offered through state legislation, local municipalities and utility companies can vary. It's best for homeowners to speak to their local HVAC professional about these rebates or use a zip code-based HVAC savings database as a point of reference.
  
  
• Manufacturer Rebates and Financing Options: With high-efficiency equipment rebates from Johnson Controls, more than 30 consumer financing options through Synchrony^® Financial, factory-backed warranties and new Inflation Reduction Act incentives, there has never been a better time to upgrade to a new home comfort system.

Eligible products include high-efficiency air conditioners, furnaces, and heat pumps. For more information on these high-efficiency systems and savings, contact your local YORK^®, Luxaire^®, Coleman^®, Champion^®, Fraser-Johnston^®, Guardian^® or Evcon™ dealer.

Media Contact:
Ryan Nolan
Public Relations Program Manager
Building Technologies & Solutions, Johnson Controls
Mobile: +1 414-378-9641
Ryan.P.Nolan@jci.com

About Johnson Controls 

At Johnson Controls (NYSE:JCI), we transform the environments where people live, work, learn and play. As the global leader in smart, healthy and sustainable buildings, our mission is to reimagine the performance of buildings to serve people, places and the planet.

Building on a proud history of nearly 140 years of innovation, we deliver the blueprint of the future for industries such as healthcare, schools, data centers, airports, stadiums, manufacturing and beyond through OpenBlue, our comprehensive digital offering.

Today, with a global team of 100,000 experts in more than 150 countries, Johnson Controls offers the world`s largest portfolio of building technology and software as well as service solutions from some of the most trusted names in the industry.

Visit www.johnsoncontrols.com for more information and follow @JohnsonControls on social platforms.

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SOURCE Johnson Controls International plc

FAQ

What savings can homeowners expect from Johnson Controls' HVAC systems under the Inflation Reduction Act?

Homeowners can potentially reduce their heating and cooling costs by up to 50% with higher-efficiency HVAC systems.

How much funding is available through the Inflation Reduction Act for energy initiatives?

The Inflation Reduction Act includes $370 billion for climate and energy initiatives.

What is Johnson Controls' commitment to sustainability?

Johnson Controls is committed to achieving net-zero carbon emissions by 2040.

What types of incentives are available for upgrading HVAC systems?

Incentives include tax credits up to 30% of eligible expenses, state and local rebates, and financing options.

When do the new tax credits for HVAC systems take effect?

The new energy tax credits take effect for products installed from January 1, 2023, extending through 2032.