A well-designed 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 worthwhile. 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 excellent time to explore your options. Different companies, organizations and even government entities are promoting rebates in 2023 to help everyone secure a new, high-efficiency HVAC system.
Receive a Tax Rebate by Installing a High Efficiency Furnace
Lots of manufacturers of high-efficiency furnaces extend rebates toward the cost of a new system. These furnaces incorporate energy-efficient components like variable-speed blower motors, which let the thermostat fine-tune how much heating is produced. It’s a great way to lower energy use overall. Local utilities also share furnace rebates as less energy use means 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 learn which rebates you may be eligible for. Equipment with the ENERGY STAR® rating means it meets 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 equipment from a leading brand such as Lennox. Just consult your local utility companies to verify which makes and models are entitled. Additionally, you can easily combine federal and local rebates for even greater savings. Don’t hesitate to see what all you can find, because it can quickly add up to 10% of a new, high-efficiency air conditioner
Available Rebates for Smart Thermostats
A smart thermostat is an incredibly valuable addition to your home comfort system. With intelligent programming, you can optimize the daily schedule. Utility companies appreciate this kind of efficiency, and so most extend rebate programs for new smart thermostats. In time, these rebates effectively enable you to get a free smart thermostat!
Local utility companies also provide programs where they swap discounted rates for the capacity to adjust your thermostat during peak energy use. This helps minimize strain on the grid, namely when heat waves or cold fronts come through. When registered in this program, your thermostat can automatically be corrected by a few degrees.
Additional Ways to Save: High Efficiency Products and Home Improvement Credits
A little 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 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, such as home energy audits, electrical, insulation, ventilation, and even your doors and windows! The programs are designed to provide 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 called the High-Efficiency Electric Homes and Rebates Act, or HEEHRA. This incentive is specially targeted toward heat pump technology, which transfers heat instead of generating it by burning fuel. To encourage more people to change to this energy-efficient comfort system, these rebates are significantly higher versus incentives for AC systems and furnaces.
If a 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 making 80-150% of the typical income can cover 50% of equipment and installation costs.