Maximizing Your Savings: HVAC Rebates and Tax Credits in Phoenix

If you’re a homeowner in Phoenix or the surrounding areas, upgrading your HVAC system can be a smart investment. Not only can you enjoy a more comfortable home, but you can also take advantage of various SRP AC rebates or APS rebates, and federal tax incentives to help offset the cost. In this guide, we’ll break down the available programs and how you can claim these valuable savings.

SRP Rebates for Energy-Efficient HVAC Systems

Salt River Project (SRP) offers several rebates to help their customers save on energy-efficient home upgrades. If you are an SRP customer, you may qualify for the following benefits:

SRP AC Rebates

Homeowners can receive rebates when they install a new air conditioning unit, heat pump, and/or mini split system with a qualifying SEER rating. These rebates range from $75 to $1,125, depending on the unit's efficiency and type.

• Single-stage AC or Heat Pump (15.2+ SEER2): $75 per ton
• Multi-stage AC or Heat Pump (15.2+ SEER2): $150 per ton
• Variable-capacity AC or Heat Pump (15.2+ SEER2): $225 per ton
• Inverter-driven mini split Heat Pump (15.2+ SEER2): $225 per ton
  

SRP Smart Thermostat Rebates

Customers can receive up to $100 in rebates for purchasing and installing a qualifying smart thermostat. These devices help reduce energy consumption by automatically adjusting temperatures based on occupancy and usage patterns.

• Joining SRP’s BYOT program (bring your own thermostat program) allows your thermostat to automatically adjust by a couple of degrees during periods of higher power usage demand.
• If you already have a smart thermostat, you can still enroll in BYOT and be eligible for a $50 bill credit per smart thermostat (2 max). Additionally, you will receive a $25 bill credit per thermostat every year you remain enrolled.
  

Estimated Savings

Homeowners switching from older, less efficient AC units to high-SEER systems can save anywhere from $3,600 to $9,150 over a 15-year period, depending on the system type and size. According to SRP

How to Apply for SRP Rebates

1. Choose a participating SRP contractor like Mint Home to install your new HVAC system or smart thermostat.
2. Ensure your new AC unit or thermostat meets SRP’s eligibility requirements.
3. Complete and submit the rebate application online via SRP’s Rebate Center.
4. Receive your rebate via check or bill credit within a few weeks.
   
   
   

APS Rebates for Energy Efficiency

Arizona Public Service (APS) also provides rebates to customers who make energy-efficient home upgrades. Here’s what you can take advantage of:

APS AC Rebates

• Get a $200 rebate when you replace your old or broken air conditioner (AC) with a new one installed by an APS Qualified Technology Installer like Mint Home.
• Customers in need can receive up to $1,200 in rebate assistance through APS’s Energy Support program.
  
  

How It Works

• Your APS qualified contractor, like Mint Home, will submit the rebate form on your behalf.
• You must replace your old AC unit with a new qualifying unit installed by a Qualified Technology Installer.
• Your rebate will be processed in 6-8 weeks.
  

APS Thermostat Rebate

Customers who purchase and install an eligible smart thermostat can receive a $30 rebate, and an additional $85 rebate when you enroll in APS’s Cool Rewards Program, making it easier to optimize energy use and reduce monthly bills.

• If you already have a qualifying smart thermostat you can claim your rebate by clicking the ‘Claim Rebate’ button at the APS Marketplace.
• To get an instant $30 rebate purchase directly from APS Marketplace.
  

Federal Tax Credits for Energy-Efficient HVAC Systems

Beyond state-level rebates, homeowners can also benefit from federal tax credits under the Inflation Reduction Act.

Energy Efficient Home Improvement Credit

This tax credit covers up to 30% of the cost of a new energy-efficient HVAC system, with a maximum credit of $600 for qualified air conditioners and up to $2,000 for heat pumps.

How to Claim the Federal Tax Credit

1. Purchase and install a qualifying HVAC system before the end of the tax year.
2. Keep all receipts and manufacturer certification statements.
3. File IRS Form 5695 when submitting your federal tax return.
   
   

Maximize Your Savings Today

Taking advantage of SRP rebates, APS rebates, and federal tax incentives can make upgrading your HVAC system much more affordable. By combining these programs, you can lower your upfront costs while enjoying long-term energy savings.
To get started, get an instant quote from Mint Home and see what rebates you may qualify for. Don’t leave money on the table—claim your rebates today!