A dependable HVAC system is vital for a comfortable and energy-efficient home, but it’s also a major investment. Everyone deserves the most effective comfort solutions achievable, 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 going up next year, so now’s an ideal time to explore your options. Different companies, organizations and even government entities are promoting 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 provide rebates toward buying a new system. These furnaces incorporate energy-efficient components like variable-speed blower motors, which let the thermostat refine how much heating is released. It’s a great way to lower energy use overall. Local utilities also offer furnace rebates since less energy use results in less strain on the local energy grid.
The government’s ENERGY STAR® program is also useful for securing a furnace rebate. You can type in your ZIP Code to see which rebates you could be approved for. Equipment displaying the ENERGY STAR® rating means it meets your region’s standards for energy-efficient comfort.
Air Conditioner Rebates
A lot of of the same rebates for high-efficiency furnaces are also suitable for air conditioners. You can save hundreds on new installation for a system from a leading brand such as Lennox. Just consult your local utility companies to verify which makes and models are suitable. What’s more, you can usually combine federal and local rebates for even higher savings. Don’t hesitate to learn what's out there, because it can quickly add up to 10% of a new, high-efficiency cooling system.
Obtainable Rebates for Smart Thermostats
A smart thermostat is an incredibly valuable addition to your home comfort system. With intelligent programming, you can enhance the daily schedule. Utility companies appreciate this kind of efficiency, and so most extend rebate programs for new smart thermostats. After some time, these rebates effectively enable you to get a free smart thermostat!
These utility companies also provide programs where they exchange reduced rates for the capacity to access your thermostat during peak energy use. This helps minimize strain on the grid, namely when heat waves or cold fronts come through. 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 than rebates, tax credits are also offered for the purchase and installation of energy-efficient HVAC systems. For example, the Inflation Reduction Act reactivated 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 as opposed to only once. These credits are eligible for a much greater variety of projects, like 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 known as the High-Efficiency Electric Homes and Rebates Act, or HEEHRA. This incentive is especially geared toward heat pump technology, which transfers heat instead of producing it by burning fuel. To persuade more people to convert to this energy-efficient comfort system, these rebates are significantly higher than incentives for AC units 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 that meet 80-150% of the median income can take care of 50% of equipment and installation costs.