A dependable HVAC system is vital for a comfortable and energy-efficient home, but it’s also a big investment. Everyone deserves the most productive comfort solutions available, 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 climbing next year, so now’s an ideal time to explore your options. Different companies, organizations and even government entities are offering 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 extend rebates toward the cost of a new system. These furnaces incorporate energy-efficient components like variable-speed blower motors, which enable the thermostat to optimize how much heating is released. It’s an easy way to reduce energy use overall. Local utilities also share furnace rebates because less energy use results in less strain on the local energy grid.
The government’s ENERGY STAR® program is also recommended for obtaining a furnace rebate. You can type in your ZIP Code to learn which rebates you could be qualified for. Equipment displaying the ENERGY STAR® rating means it satisfies your region’s standards for energy-efficient performance.
Air Conditioner Rebates
Many 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 top brand like Lennox. Just consult your local utility companies to find out which makes and models are eligible. What’s more, you can usually join federal and local rebates for even greater 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 a particularly valuable upgrade to your home comfort system. With intelligent programming, you can fine-tune the daily schedule. Utility companies highly value this degree of efficiency, and so most offer rebate programs for new smart thermostats. In time, these rebates essentially permit you to get a free smart thermostat!
Your utility companies also create programs where they provide reduced rates for the capacity to access your thermostat during peak energy use. This helps avoid strain on the grid, namely when heat waves or cold fronts arrive. 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 from rebates, tax credits are also promoted for the purchase and installation of energy-efficient HVAC equipment. For example, the Inflation Reduction Act restarted a program in 2021 that provided credits for up to 10% of the project’s cost. The revised credits are now worth 30% of the cost and may be claimed each year as opposed to only once. These credits are eligible for a much larger variety of projects, such as 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 all over 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 aimed 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 significantly higher compared to incentives for AC units 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 making 80-150% of the median income can pay for 50% of equipment and installation costs.