A dependable HVAC system is vital for a comfortable and energy-efficient home, but it’s also a big investment. You deserve the most efficient comfort solutions available, which is why HVAC rebates are so important. They can help make sure high-efficiency furnaces, air conditioners and other equipment is more affordable.
HVAC efficiency standards are increasing next year, so now’s a great time to explore your options. Various companies, organizations and even government entities are offering rebates in 2023 to help everyone procure a new, high-efficiency HVAC system.
Rebates for High-Efficiency Furnaces
Numerous manufacturers of high-efficiency furnaces extend rebates toward the cost of a new system. These furnaces include energy-efficient components such as variable-speed blower motors, which enable the thermostat to fine-tune how much heating is generated. It’s an easy way to decrease energy use overall. Local utilities also provide furnace rebates as less energy use means less strain on the local energy grid.
The government’s ENERGY STAR® program is also recommended for securing a furnace rebate. You can enter your ZIP Code to find out which rebates you might be approved for. Equipment with the ENERGY STAR® rating means it meets 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 such as Lennox. Just check with your local utility companies to verify which makes and models are eligible. In addition, you can often join federal and local rebates for even more 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.
Potential Rebates for Smart Thermostats
A smart thermostat is an incredibly valuable upgrade to your home comfort system. With intelligent programming, you can enhance the daily schedule. Utility companies can benefit from this kind of efficiency, and so most offer rebate programs for new smart thermostats. In time, these rebates essentially allow you to get a free smart thermostat!
Local utility companies also provide programs where they swap lower rates for the capacity to control your thermostat during peak energy use. This helps avoid strain on the grid, particularly when heat waves or cold fronts arrive. When participating in this program, your thermostat will automatically be adjusted by a few degrees.
Additional Ways to Save: Tax Credits for Energy-Efficient Equipment and Home Improvement Projects
Somewhat different compared to rebates, tax credits are also offered for the purchase and installation of energy-efficient HVAC systems. For example, the Inflation Reduction Act restarted a program in 2021 that offered credits for up to 10% of the project’s cost. The updated credits are now worth 30% of the cost and can be claimed each year rather than only once. These credits are obtainable for a much wider variety of projects, like home energy audits, electrical, insulation, ventilation, and even your doors and windows! The programs are tailored 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 called the High-Efficiency Electric Homes and Rebates Act, or HEEHRA. This incentive is especially targeted toward heat pump technology, which transfers heat instead of producing it by combusting fuel. To motivate more people to change to this energy-efficient comfort system, these rebates are considerably higher versus incentives for AC systems and furnaces.
If your household’s income is less than 80% of the local median, you are able to use the rebates to cover 100% of the costs of a new heat pump. Households that meet 80-150% of the typical income can pay for 50% of equipment and installation costs.