A dependable HVAC system is crucial 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 worthwhile. They can help make sure 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 compare your options. Different companies, organizations and even government entities are extending rebates in 2023 to help everyone acquire a new, high-efficiency HVAC system.
Furnace Rebates Require High Efficiency Models
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 optimize how much heating is produced. It’s a fantastic way to decrease energy use overall. Local utilities also share furnace rebates since less energy use translates to 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 qualified for. Equipment displaying the ENERGY STAR® rating means it satisfies your region’s standards for energy-efficient operation.
Earning a Rebate for a High Efficiency Air Conditioner
A lot of of the same rebates for high-efficiency furnaces are also applicable to air conditioners. You can save hundreds on new installation for a system from a leading brand such as Lennox. Just check with your local utility companies to verify which makes and models are suitable. What’s more, you can easily combine federal and local rebates for even more savings. Don’t hesitate to find out what's all available, because it can easily add up to 10% of a new, high-efficiency air conditioner
Available Rebates for Smart Home Accessories Like Smart Thermostats
A smart thermostat is a particularly valuable addition to your home comfort system. With intelligent programming, you can enhance the daily schedule. Utility companies can benefit from this degree of efficiency, and so most extend rebate programs for new smart thermostats. Over time, these rebates essentially permit you to get a free smart thermostat!
Local utility companies also offer programs where they exchange reduced rates for the capacity to adjust your thermostat during peak energy use. This helps minimize strain on the grid, particularly when heat waves or cold fronts come through. When registered in this program, your thermostat will automatically be corrected by a few degrees.
Additional Incentives: Tax Credits for Energy-Efficient Equipment and Home Improvement Projects
A little different from rebates, tax credits are also available for the purchase and installation of energy-efficient HVAC equipment. For example, the Inflation Reduction Act reactivated a program in 2021 that provided 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 greater variety of projects, such as home energy audits, electrical, insulation, ventilation, and even your doors and windows! The programs are designed 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 referred to as the High-Efficiency Electric Homes and Rebates Act, or HEEHRA. This incentive is particularly aimed toward heat pump technology, which transfers heat instead of producing it by burning fuel. To motivate more people to change to this energy-efficient comfort system, these rebates are significantly higher than incentives for AC systems and furnaces.
If a household’s income is below 80% of the local median, you can 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.