Home Air Conditioning: How to Stay Cool and Save Money

A ductless mini split air conditioner

Home air conditioning is a necessity for many people, especially during the hot summer months. But did you know that air conditioning also contributes to climate change, which makes the summers even hotter and longer? How can you balance your comfort and your environmental impact when it comes to cooling your home? In this blog post, we will explore the following topics:

By the end of this post, you will have a better understanding of how to choose and use home air conditioning wisely and responsibly.

How Air Conditioning Affects Climate Change and Vice Versa

Air conditioning is a double-edged sword when it comes to climate change. On one hand, it helps us cope with the rising temperatures and extreme heat waves that are becoming more frequent and severe due to global warming. According to the World Health Organization (WHO), heat stress is responsible for more than 160,000 deaths per year worldwide1. Air conditioning can prevent heat-related illnesses and deaths, as well as improve productivity, comfort, and quality of life.

On the other hand, air conditioning also contributes to climate change by increasing the demand for electricity, which is often generated from fossil fuels that emit greenhouse gases. According to the International Energy Agency (IEA), air conditioners account for about 10% of global electricity consumption2. Moreover, some air conditioners use refrigerants that are potent greenhouse gases themselves, such as hydrofluorocarbons (HFCs). If left unchecked, the growing use of air conditioning could offset the efforts to reduce greenhouse gas emissions and mitigate climate change.

Therefore, it is important to find ways to reduce the environmental impact of air conditioning while still enjoying its benefits. Some of the solutions include:

The Different Types of Home Air Conditioners and Their Pros and Cons

There are various types of home air conditioners, each with its own advantages and disadvantages. Here are some of the most common ones:

The Best Air Conditioner Models for 2022 and 2023 Based on Expert Reviews

If you are looking for a new air conditioner for your home, you may want to consider some of the top models that have been rated highly by experts and consumers. Here are some of the best air conditioner models for 2022 and 2023 based on various sources345:

The Tax Incentives Available for Buying and Installing Energy-Efficient Air Conditioners

If you are planning to buy and install an energy-efficient air conditioner for your home, you may be eligible for some tax incentives that can help you reduce your costs. The federal Inflation Reduction Act, passed in 2022, expanded and extended the tax credits available for energy-efficient home improvements, including HVAC system components6. An array of ENERGY STAR certified equipment is eligible for the tax credits, including:

The tax credit is effective for products purchased and installed between January 1, 2023, and December 31, 2032. You can claim:

There are also annual limits on the total amount of credit you can claim for any combination of eligible products, as well as specific limits for certain types of products. The overall total limit for an efficiency tax credit is $5,000 per taxpayer. The specific limits for certain types of products are:

To claim the tax credit, you will need to file Form 5695 with your federal income tax return. You will also need to keep a copy of the manufacturer’s certification statement and your receipt or invoice as proof of purchase and installation. irs.gov.

The tax credit is nonrefundable, which means it can only reduce your tax liability to zero. If your credit amount exceeds your tax liability, you cannot carry over the excess to future years. However, you can claim the credit in the same year as other tax credits, such as the residential renewable energy tax credit or the electric vehicle tax credit.

The tax credit is not available for rental properties or second homes. It is only available for your main home where you live most of the time. The home must be located in the United States and be an existing home, not a new construction.

For more information on the tax credits for energy-efficient home improvements, visit the IRS website or consult a tax professional.

By taking advantage of the tax incentives available for buying and installing energy-efficient air conditioners, you can not only save money on your cooling bills, but also reduce your carbon footprint and help fight climate change. It’s a win-win situation for you and the planet!

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