A quality HVAC system is vital for a comfortable and energy-efficient home, but it’s also a major investment. You deserve the most productive comfort solutions achievable, which is why HVAC rebates are so beneficial. They can help guarantee high-efficiency furnaces, air conditioners and other equipment is more affordable.
HVAC efficiency standards are increasing next year, so now’s an excellent time to explore your options. Various companies, organizations and even government entities are offering rebates in 2023 to help everyone secure a new, high-efficiency HVAC system.
Rebates for High-Efficiency Furnaces
Numerous manufacturers of high-efficiency furnaces provide rebates toward the cost of a new system. These furnaces include energy-efficient components like variable-speed blower motors, which allow the thermostat to refine how much heating is produced. It’s a great way to reduce energy use overall. Local utilities also offer furnace rebates as less energy use translates to less strain on the local energy grid.
The government’s ENERGY STAR® program is also helpful for acquiring a furnace rebate. You can submit your ZIP Code to see which rebates you could be qualified for. Equipment with the ENERGY STAR® rating means it satisfies your region’s standards for energy-efficient performance.
Air Conditioner Rebates
Plenty of of the same rebates for high-efficiency furnaces are also suitable for air conditioners. You can save hundreds on new installation for efficient cooling from a top brand like Lennox. Just consult your local utility companies to verify which makes and models are suitable. In addition, you can easily combine federal and local rebates for even more savings. Don’t hesitate to find out what's all available, because it can easily add up to 10% of a new, high-efficiency air conditioner.
Available Rebates for Smart Thermostats
A smart thermostat is an especially valuable improvement to your home comfort system. With intelligent programming, you can fine-tune the daily schedule. Utility companies appreciate this level of efficiency, and so most provide rebate programs for new smart thermostats. Over time, these rebates virtually allow you to get a free smart thermostat!
Local utility companies also provide programs where they provide lower rates for the ability to access your thermostat during peak energy use. This helps reduce strain on the grid, especially when heat waves or cold fronts show up. When participating in this program, your thermostat can automatically be adjusted by a few degrees.
More Ways to Save: Tax Credits for Energy-Efficient Equipment and Home Improvement Projects
Slightly different compared to rebates, tax credits are also available for the purchase and installation of energy-efficient HVAC systems. For example, the Inflation Reduction Act restarted a program in 2021 that provided credits for up to 10% of the project’s cost. The updated credits are now worth 30% of the cost and may be claimed every year rather than only once. These credits are obtainable for a much greater variety of projects, like home energy audits, electrical, insulation, ventilation, and even your doors and windows! The programs are designed 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 contained separate legislation referred to as the High-Efficiency Electric Homes and Rebates Act, or HEEHRA. This incentive is especially targeted toward heat pump technology, which transfers heat instead of creating it by igniting fuel. To persuade more people to change to this energy-efficient comfort system, these rebates are considerably higher versus incentives for AC units and furnaces.
If the household’s income is below 80% of the local median, you could use the rebates to cover 100% of the costs of a new heat pump. Households that meet 80-150% of the median income can take care of 50% of equipment and installation costs.