A dependable HVAC system is essential for a comfortable and energy-efficient home, but it’s also a major investment. Every homeowner deserves the most efficient comfort solutions available, which is why HVAC rebates are so worthwhile. They can help ensure high-efficiency furnaces, air conditioners and other equipment is more budget friendly.
HVAC efficiency standards are going up next year, so now’s a great time to check out your options. Various 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
Numerous manufacturers of high-efficiency furnaces offer rebates toward buying a new system. These furnaces incorporate energy-efficient components such as variable-speed blower motors, which enable the thermostat to fine-tune how much heating is generated. It’s a fantastic way to lower energy use overall. Local utilities also offer furnace rebates as less energy use results in less strain on the local energy grid.
The government’s ENERGY STAR® program is also useful for obtaining a furnace rebate. You can type in your ZIP Code to see which rebates you could be eligible for. Equipment displaying the ENERGY STAR® rating means it fulfills your region’s standards for energy-efficient operation.
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 equipment from a top brand such as Lennox. Just talk to your local utility companies to learn which makes and models are eligible. What’s more, you can easily join federal and local rebates for even more savings. Don’t hesitate to learn what's out there, because it can easily 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 fine-tune the daily schedule. Utility companies highly value this level of efficiency, and so most extend rebate programs for new smart thermostats. After some time, these rebates virtually permit you to get a free smart thermostat!
Local utility companies also provide programs where they provide discounted rates for the ability to access your thermostat during peak energy use. This helps minimize strain on the grid, especially when heat waves or cold fronts show up. When registered in this program, your thermostat may automatically be corrected by a few degrees.
Additional 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 systems. For example, the Inflation Reduction Act reactivated a program in 2021 that supplied credits for up to 10% of the project’s cost. The updated credits are now worth 30% of the cost and may be claimed every year as opposed to only once. These credits are available for a much greater variety of projects, like 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 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 particularly targeted toward heat pump technology, which transfers heat instead of creating it by combusting fuel. To motivate more people to convert to this energy-efficient comfort system, these rebates are substantially higher than incentives for AC systems and furnaces.
If the 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 meeting 80-150% of the median income can pay for 50% of equipment and installation costs.