Gas vs. Electric in Concord: Rebate Math for Comfort

Thinking about replacing your furnace or water heater in Concord and wondering if going electric will really save you money and keep you comfortable? You are not alone. Between new rebates and changing federal credits, the math can feel confusing. This guide breaks it down with local programs, simple example numbers, and a quick way to compare running costs so you can decide with confidence. Let’s dive in.

Concord rebates at a glance

Energy Saver North Carolina

Energy Saver NC is rolling out statewide rebates funded by the U.S. Department of Energy. Published examples show up to $8,000 for a qualifying ENERGY STAR heat pump and up to $1,750 for a heat pump water heater, with total per‑home caps and income‑based tiers. Cabarrus County appears in Phase 6, planned for December 2025, so timing matters for eligibility and funding. See details, income tiers, and the rollout schedule on the official program page for Energy Saver North Carolina.

Key rules to know:

• Installers must meet program requirements and rebates cannot exceed the project cost.
• Income tiers determine what share of costs is covered. Some households may qualify for very high coverage up to program caps.
• County activation is phased. Check when Cabarrus is live and whether your address is eligible before you schedule work.

City of Concord rebate

If you take electric service from the City of Concord, the city lists a $400 residential rebate for new or replacement high‑efficiency electric heat pumps. Amounts and processes can change, so confirm current details in the city’s published schedule and with the Electric Department. Review the municipal listing in the City of Concord rates and fee schedule.

Duke Energy rebates

Duke Energy’s residential programs offer HVAC and water‑heating rebates that can stack with state and municipal incentives, subject to rules. Recent examples include HVAC replacement rebates in the hundreds to low thousands depending on system and efficiency, and heat pump water heater rebates of $500 for 50‑gallon units and $800 for 80‑gallon units. Many rebates require a Home Energy Check first. See current incentives for HVAC replacement, heat pump water heaters, and the Home Energy Check.

Upfront cost: a simple example

Below is an illustrative Concord scenario using mid‑range installed costs. Your quotes may differ, and eligibility affects what you can actually claim.

• Replace with gas:

  • Gas furnace installed: $5,000
  • Gas tank water heater installed: $1,000
  • Baseline total: $6,000

• Switch to all‑electric:

  • Whole‑home heat pump installed: $10,000
  • Heat pump water heater installed: $3,000
  • Electric total: $13,000

Incremental premium before incentives: $7,000.

Now apply example rebates, assuming eligibility and that total rebates do not exceed the purchase price:

• Energy Saver NC: up to $8,000 for the heat pump + $1,750 for the heat pump water heater = $9,750. See Energy Saver North Carolina for rules and caps.
• Duke Energy: example combined incentives around $1,100 for qualifying HVAC plus water heater. See current HVAC and HPWH pages.
• City of Concord: $400 for a qualifying heat pump. See the city schedule.

Illustrative stacked total: $11,250 in rebates.
Net electric option after rebates: $13,000 − $11,250 = $1,750 out of pocket.
Versus the $6,000 gas baseline, rebates can nearly erase the premium for electrification depending on your eligibility. For some income tiers under Energy Saver NC, coverage could be higher, subject to program caps and project cost limits.

Operating cost: gas vs electric

Equipment efficiency and energy prices determine your monthly bills. Use your actual bills for best accuracy. The quick method is to compare cost per unit of delivered heat.

Assumptions for Concord:

• Electricity: about $0.13/kWh based on Cabarrus County averages from EnergySage.
• Natural gas: North Carolina residential prices have varied widely. Recent EIA data show roughly $13 to $34 per thousand cubic feet depending on the month. See monthly volatility on the EIA North Carolina series.
• System efficiency:
  • Heat pump seasonal performance: COP 3.0 baseline, with a 2.5 to 3.5 sensitivity range.
  • Gas furnace efficiency: 95 percent AFUE.

Delivered heat cost results:

What it means for you:

• With a modern heat pump at COP around 3.0, your heating cost per unit can be slightly lower than gas at typical lower gas prices and much lower when gas spikes.
• If your seasonal COP is closer to 2.5, costs can be similar to low gas months but still favorable when gas jumps.
• Heat pumps also provide efficient cooling, which replaces or upgrades your AC at the same time.

Timing, risks, next steps

Federal credits changed in 2025. Sections of H.R.1 sunset or terminate several residential clean‑energy credits for expenditures after December 31, 2025. If you plan to rely on federal tax credits, completion before the 2025 year‑end could matter. Review the law text on Congress.gov and verify IRS guidance for your filing year.

Your action checklist:

• Check when Cabarrus County is active and whether you qualify under Energy Saver North Carolina income tiers.
• If you are a Duke Energy customer, complete the Home Energy Check to unlock eligible rebates.
• If you are a City of Concord electric customer, confirm the current heat pump rebate and application steps in the city schedule.
• Get multiple installer quotes, ask for Manual J sizing and seasonal performance estimates, and confirm which rebates the contractor will submit.
• Verify whether federal credits apply in your installation year and consult a tax professional for your situation.

Ready to talk through upgrades that boost comfort and resale appeal in the Greater Charlotte area? For clear guidance on timing, value, and your next real estate move, reach out to Kris Kjeldsen.

FAQs

What rebates can a Concord homeowner use to switch from gas to electric?

• Energy Saver NC lists up to $8,000 for a qualifying heat pump and up to $1,750 for a heat pump water heater, with potential stacking from Duke Energy HVAC and water‑heater rebates and a $400 City of Concord heat pump rebate, subject to eligibility and program caps.

When will Energy Saver NC rebates reach Cabarrus County?

• The state’s published rollout places Cabarrus County in Phase 6 planned for December 2025, so check the Energy Saver NC portal for activation and eligibility before scheduling work.

How do Duke Energy heat pump water heater rebates work?

• Duke’s current examples show $500 for 50‑gallon and $800 for 80‑gallon qualifying units, often requiring a Home Energy Check and specific efficiency criteria before applying.

How do operating costs compare for a heat pump vs a gas furnace in Concord?

• Using about 13 cents per kWh and realistic seasonal COPs, a heat pump often matches or beats gas on a cost‑per‑MMBtu basis at typical gas prices and is significantly cheaper when gas spikes.

What is the federal tax credit timing risk for heat pumps?

• Sections of H.R.1 reduce or end several residential clean‑energy credits for expenses after December 31, 2025, so installation timing can affect eligibility and you should verify current IRS guidance.

What steps should I take to maximize incentives before replacing equipment?

• Confirm county and income eligibility with Energy Saver NC, complete Duke’s Home Energy Check if applicable, verify the City of Concord rebate, get multiple quotes with Manual J and COP estimates, and confirm the contractor will handle rebate submissions.