A dependable HVAC system is essential for a comfortable and energy-efficient home, but it’s also a big investment. You deserve the most productive comfort solutions available, which is why HVAC rebates are so important. 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 explore your options. A variety of 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
Many manufacturers of high-efficiency furnaces provide rebates toward buying a new system. These furnaces include energy-efficient components such as variable-speed blower motors, which let the thermostat fine-tune how much heating is produced. It’s a great way to decrease energy use overall. Local utilities also provide furnace rebates because less energy use results in less strain on the local energy grid.
The government’s ENERGY STAR® program is also useful for acquiring a furnace rebate. You can submit your ZIP Code to see which rebates you may be eligible for. Equipment featuring the ENERGY STAR® rating means it satisfies your region’s standards for energy-efficient operation.
Air Conditioner Rebates
A lot of of the same rebates for high-efficiency furnaces are also useful for air conditioners. You can save hundreds on new installation for a system from a leading brand such as Lennox. Just talk to your local utility companies to verify which makes and models are eligible. What’s more, you can often join federal and local rebates for even higher savings. Don’t hesitate to see what all you can find, because it can easily add up to 10% of a new, high-efficiency AC system.
Available Rebates for Smart Thermostats
A smart thermostat is a particularly valuable improvement to your home comfort system. With intelligent programming, you can enhance 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 enable you to get a free smart thermostat!
Your utility companies also create programs where they exchange discounted rates for the ability to control your thermostat during peak energy use. This helps avoid strain on the grid, especially when heat waves or cold fronts show up. When participating in this program, your thermostat will automatically be adjusted by a few degrees.
Other Ways to Save: Tax Credits for Energy-Efficient Equipment and Home Improvement Projects
Somewhat different from rebates, tax credits are also promoted for the purchase and installation of energy-efficient HVAC systems. For example, the Inflation Reduction Act reactivated a program in 2021 that supplied credits for up to 10% of the project’s cost. The updated credits are now worth 30% of the cost and may be claimed each year as opposed to only once. These credits are eligible for a much larger variety of projects, such as home energy audits, electrical, insulation, ventilation, and even your doors and windows! The programs are tailored to provide the most benefits for lower-income households, maximizing the improvements to HVAC efficiency all over the country.
New Legislation for Heat Pump Rebates
The recently passed Inflation Reduction Act contained separate legislation called the High-Efficiency Electric Homes and Rebates Act, or HEEHRA. This incentive is particularly targeted toward heat pump technology, which transfers heat instead of generating it by burning fuel. To encourage more people to convert to this energy-efficient comfort system, these rebates are substantially higher than incentives for AC systems and furnaces.
If your household’s income is less than 80% of the local median, you can use the rebates to cover 100% of the costs of a new heat pump. Households making 80-150% of the average income can pay for 50% of equipment and installation costs.