It pays to improve your home’s energy efficiency! Not only will you save money on your energy bills with a more efficient home, but you can also get tax credits and rebates to help pay for the work.
Total Home Performance specializes in whole-home energy efficiency improvements and our goal is to make this work as affordable as possible for our customers. We can help you take full advantage of rebates and incentives to significantly reduce the cost of crucial home upgrades like attic insulation, crawl space encapsulation, heat pump installation, and more.
Keep reading for a complete breakdown of the best Maryland home improvement incentives and financing options for 2024.
Tax Incentives for Home Improvement Projects
Energy Efficient Home Improvement Tax Credit (25C)
The Energy Efficient Home Improvement Credit is a federal tax credit designed to make energy efficiency home improvements more affordable. It allows you to claim a credit worth 30% of qualified expenses, up to $3,200, on your federal income taxes, reducing what you owe.
The tax credit is divided into two primary categories:
- Energy Efficient Home Improvements: Qualifying energy efficiency home improvements are eligible for a 30% tax credit up to $1,200. Qualifying improvements include insulation, air sealing, energy efficient windows and doors, and more.
- Heat Pumps: Ducted heat pump HVAC systems and ductless mini splits are eligible for a 30% tax credit up to $2,000.
How to Claim the Energy Efficient Home Improvement Tax Credit
You can claim the tax credit when you file your federal taxes for the year you make qualifying home upgrades. The tax credit is available now and a great opportunity to save on the upgrades your home needs. To claim the tax credit on your 2024 taxes, you must complete your project by the end of the year. Call Total Home Performance to get started today. We can help you maximize your insulation and heat pump tax credits.
Weatherization Assistance Programs
Maryland Weatherization Assistance Program
The Maryland Weatherization Assistance Program (WAP) provides NO-COST upgrades to low-income households. If you meet income requirements, you could receive attic insulation, air sealing, and hot water heater improvements at no cost to you. These are significant upgrades that will make your home more comfortable and reduce your energy bills so you can save money every month.
How to Participate in Maryland WAP
To be eligible for no-cost home upgrades through Maryland’s weatherization assistance program, you must meet income qualifications and work with a participating contractor. Total Home Performance is proud to be a participating contractor with Maryland WAP. Reach out to us today to get started. We can help you find out whether you’re eligible.
Rebate Programs
Total Home Performance is a participating contractor with local rebate programs. We can help you take advantage of significant Maryland insulation rebates, air sealing rebates, and more!
BGE Smart Energy Savers Program
Are you a BGE customer? You can receive a free energy audit and up to $10,000 in rebates for home upgrades including insulation, air sealing, duct sealing, heating and cooling equipment, and smart thermostats!
How to Claim BGE Rebates
To be eligible for BGE rebates, you must be a BGE customer. Your upgrades must also be completed by a Home Performance with ENERGY STAR (HPwES) contractor. Total Home Performance is both a crawl space expert and a HPwES contractor, which makes us one of the only companies that can provide these rebates for crawl space services!
Delmarva Power Rebates
Delmarva Power customers are eligible for up to $10,000 in rebates for a wide range of energy-saving home improvements including insulation, air sealing, duct sealing, HVAC upgrades, energy audits, and more.
How to Claim Delmarva Power Rebates
To be eligible for Delmarva Power rebates, you must be a Delmarva Power customer. Your upgrades must also be completed by a Home Performance with ENERGY STAR (HPwES) contractor. Total Home Performance is both a crawl space expert and a HPwES contractor, which makes us one of the only companies that can provide these rebates for crawl space services!
Low-Interest Loans & Financing
BeSMART Home Loan Program
The BeSMART Home Loan Program offers low-interest loans up to $30,000 for energy-saving home improvements that reduce your utility bills. Many upgrades qualify for financing, including heating and cooling equipment, ventilation systems, insulation, air sealing, and more.
How to Qualify for a BeSMART Loan
To be eligible for BeSMART financing, you must be a Maryland homeowner with a credit score of 640 or greater. You must also have a debt to income ratio that does not exceed 50 percent. Total Home Performance is an eligible service provider and we can help you decide whether this is the right financing option for you.