A dependable HVAC system is crucial for a comfortable and energy-efficient home, but it’s also a significant investment. Everyone deserves the most productive comfort solutions possible, which is why HVAC rebates are so beneficial. They can help guarantee high-efficiency furnaces, air conditioners and other equipment is more budget friendly.
HVAC efficiency standards are increasing next year, so now’s an ideal time to compare your options. Different companies, organizations and even government entities are offering rebates in 2023 to help everyone acquire a new, high-efficiency HVAC system.
Rebates for High-Efficiency Furnaces
Lots of manufacturers of high-efficiency furnaces offer rebates toward buying a new system. These furnaces feature energy-efficient components like variable-speed blower motors, which allow the thermostat to fine-tune how much heating is released. It’s an easy way to decrease energy use overall. Local utilities also provide furnace rebates because less energy use means less strain on the local energy grid.
The government’s ENERGY STAR® program is also recommended for obtaining a furnace rebate. You can enter your ZIP Code to see which rebates you may be eligible for. Equipment featuring the ENERGY STAR® rating means it fulfills your region’s standards for energy-efficient performance.
Air Conditioner Rebates
Plenty of of the same rebates for high-efficiency furnaces are also applicable to air conditioners. You can save hundreds on new installation for a system from a leading brand like Lennox. Just consult your local utility companies to learn which makes and models are eligible. Additionally, you can often combine federal and local rebates for even higher savings. Don’t hesitate to find out what's all available, because it can easily add up to 10% of a new, high-efficiency cooling system
Potential Rebates for Smart Thermostats
A smart thermostat is an incredibly valuable improvement to your home comfort system. With intelligent programming, you can fine-tune the daily schedule. Utility companies highly value this degree of efficiency, and so most extend rebate programs for new smart thermostats. Over time, these rebates virtually permit you to get a free smart thermostat!
These utility companies also offer programs where they swap reduced rates for the ability to adjust your thermostat during peak energy use. This helps reduce strain on the grid, especially when heat waves or cold fronts arrive. When enrolled in this program, your thermostat can automatically be changed by a few degrees.
Other Ways to Save: Tax Credits for Energy-Efficient Equipment and Home Improvement Projects
Somewhat different than rebates, tax credits are also available for the purchase and installation of energy-efficient HVAC systems. For example, the Inflation Reduction Act reactivated a program in 2021 that provided credits for up to 10% of the project’s cost. The new credits are now worth 30% of the cost and can be claimed each year instead of only once. These credits are available for a much larger variety of projects, including home energy audits, electrical, insulation, ventilation, and even your doors and windows! The programs are fashioned to offer the most benefits for lower-income households, maximizing the improvements to HVAC efficiency across the country.
New Legislation for Heat Pump Rebates
The recently passed Inflation Reduction Act incorporated separate legislation referred to as the High-Efficiency Electric Homes and Rebates Act, or HEEHRA. This incentive is specially aimed toward heat pump technology, which transfers heat instead of producing it by combusting fuel. To persuade more people to change to this energy-efficient comfort system, these rebates are considerably higher versus incentives for AC systems and furnaces.
If the household’s income is lower than 80% of the local median, you can use the rebates to cover 100% of the costs of a new heat pump. Households that meet 80-150% of the median income can pay for 50% of equipment and installation costs.
