A dependable HVAC system is essential for a comfortable and energy-efficient home, but it’s also a significant investment. You deserve the most productive comfort solutions possible, which is why HVAC rebates are so important. 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 a great time to check out your options. Different companies, organizations and even government entities are promoting rebates in 2023 to help everyone secure a new, high-efficiency HVAC system.
Rebates for High-Efficiency Furnaces
Lots of manufacturers of high-efficiency furnaces offer rebates toward the cost of a new system. These furnaces feature energy-efficient components like variable-speed blower motors, which let the thermostat optimize how much heating is generated. It’s an easy way to lower energy use overall. Local utilities also share furnace rebates because less energy use means less strain on the local energy grid.
The government’s ENERGY STAR® program is also useful for obtaining a furnace rebate. You can enter your ZIP Code to find out which rebates you could be eligible for. Equipment displaying 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 equipment from a leading brand such as Lennox. Just consult your local utility companies to learn which makes and models are entitled. In addition, you can usually join federal and local rebates for even higher savings. Don’t hesitate to see what all you can find, because it can quickly add up to 10% of a new, high-efficiency cooling system
Potential Rebates for Smart Thermostats
A smart thermostat is a particularly valuable addition to your home comfort system. With intelligent programming, you can optimize the daily schedule. Utility companies can benefit from this level of efficiency, and so most provide rebate programs for new smart thermostats. Over time, these rebates effectively permit you to get a free smart thermostat!
These utility companies also offer programs where they provide discounted rates for the ability to adjust your thermostat during peak energy use. This helps avoid strain on the grid, namely when heat waves or cold fronts arrive. When enrolled in this program, your thermostat can automatically be corrected by a few degrees.
Other Ways to Save: Tax Credits for Energy-Efficient Equipment and Home Improvement Projects
Slightly different than rebates, tax credits are also offered for the purchase and installation of energy-efficient HVAC equipment. For example, the Inflation Reduction Act restarted a program in 2021 that supplied credits for up to 10% of the project’s cost. The revised credits are now worth 30% of the cost and can be claimed each year instead of only once. These credits are eligible for a much greater variety of projects, such as home energy audits, electrical, insulation, ventilation, and even your doors and windows! The programs are designed to share the most benefits for lower-income households, maximizing the improvements to HVAC efficiency nationwide.
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 aimed toward heat pump technology, which transfers heat instead of creating it by burning fuel. To motivate more people to change to this energy-efficient comfort system, these rebates are significantly higher compared to incentives for AC systems and furnaces.
If a 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 meeting 80-150% of the median income can take care of 50% of equipment and installation costs.