The rebate and credit stack
PSE Trade Ally instant rebate, $1,200
We’re a PSE Trade Ally. The $1,200 rebate is applied as a discount on your quote, not as paperwork you submit and wait to receive. The discount appears on your invoice the day we install.
Eligibility:
- Cold-climate heat pump meeting PSE efficiency criteria (HSPF2 ≥ 7.5, SEER2 ≥ 15.2)
- Installed by a PSE Trade Ally (us)
- Replacing existing electric resistance heat OR adding AC where none exists OR replacing a gas furnace with heat pump
Active 2026 program; no end date currently published.
Federal Inflation Reduction Act 25C tax credit, up to $2,000
Section 25C of the Inflation Reduction Act provides a 30 percent tax credit on qualifying heat pump installations, capped at $2,000 per year.
- Heat pump: 30% of project cost, up to $2,000
- Electrical panel upgrade (if required to enable the heat pump): may be included in the same credit calculation
- K&T or aluminum wiring remediation (if required): same
We provide AHRI certificates and IRS Form 5695 documentation with every install. Your tax preparer applies the credit when you file the following spring.
Active through 2032.
Federal IRA 25D credit, solar + battery only
A separate IRA credit (30% with no cap) applies to solar and battery storage installations. We don’t currently install solar but we do install backup generators which DO NOT qualify for the IRA credit (different program).
Seattle Clean Heat, up to $4,000 (oil conversions)
If your home heats with oil currently (rare but happens in older Seattle homes), Seattle City Light’s Clean Heat Program offers up to $4,000 in additional rebates for switching to a heat pump. We coordinate this directly with City Light if applicable.
How they stack, a real example
Project: 4-ton cold-climate heat pump in a 2,200 sq ft Bellevue craftsman with existing 100A panel needing upgrade.
| Cost line item | Amount |
|---|---|
| Heat pump equipment + install | $19,400 |
| 200-amp panel upgrade (required) | $3,200 |
| Gross project cost | $22,600 |
| PSE Trade Ally instant rebate | -$1,200 |
| Net paid at install | $21,400 |
| IRA 25C tax credit (next spring) | -$2,000 |
| Effective total cost | $19,400 |
Savings vs gross: $3,200.
Financing options
Three paths for homeowners who don’t want to pay $19,400+ out of pocket at install time.
Synchrony / Wells Fargo HVAC financing
Industry-standard HVAC financing through national lenders. We can run an application during the consult; approval typically takes 5-15 minutes.
- 6 months same-as-cash: 0% interest if paid in full within 6 months. Useful if you’re expecting cash flow (year-end bonus, home sale).
- 12 months same-as-cash: 0% interest if paid in full within 12 months. Same caveat.
- 60-month term: ~7-12% APR depending on credit. Typical monthly payment for $19,400 project: $385-$430/mo.
- 84-month term: ~8-13% APR. Typical monthly payment for $19,400: $290-$330/mo.
HEAT Loan (state of Washington)
Washington Department of Commerce offers low-interest loans for heat pump installs:
- Up to $25,000 at 4-6% APR
- 10-year term
- Income-qualified (eligibility varies)
We can connect you with a Heat Loan provider; the application process takes 2-4 weeks so plan ahead.
Home equity / HELOC
For homeowners with equity, a HELOC typically beats HVAC financing on rates (current HELOC rates: 6-9% APR). We don’t originate HELOCs but most credit unions and banks offer them with 2-3 week approval timelines.
Should you finance or pay cash?
Honest math.
Pay cash if:
- You can do so without depleting emergency savings
- Same-as-cash promotional financing isn’t available
- HELOC rates are higher than your savings interest rate
Finance if:
- Same-as-cash promotional financing IS available, take it, then pay off before the promo ends
- 60-month financing at 7-9% APR while your savings earn 4-5%, math favors keeping cash
- Cash flow matters more than total interest paid
A $19,400 project at 7% APR over 60 months pays ~$3,700 in total interest. If your alternative is depleting an emergency fund, the interest is worth it. If you have cash sitting in a checking account earning 0%, paying cash saves the interest.
We don’t push financing. We don’t earn commission on it. We tell you the math.
Maintenance plans + financing
For homeowners financing the install, we typically bundle a 3-year maintenance plan into the project (~$700-$1,200 over 3 years). Reasons:
- Manufacturer warranties require documented annual maintenance, paying for tune-ups out of pocket later complicates the cash flow
- A failed maintenance call during the financing term is the worst time to deal with it
- The plan locks in priority scheduling and discounted parts
Plans aren’t required to get financing. They’re a recommendation.
$200 referral bonus
Every customer who refers a closed lead to us gets $200 cash. No cap on referrals. We mail the check after the referred customer’s project completes. If you’ve worked with us and someone in your network is looking for a trusted HVAC or electrical partner, tell them about us and we’ll thank you in cash.
Get the full rebate + financing picture for your project
Call (206) 200-9134 for a free on-site consult. Written quote in 24 to 48 hours includes the full rebate stack applied, financing options modeled, and effective net cost after rebates and credits.