A quality HVAC system is vital for a comfortable and energy-efficient home, but it’s also a significant investment. Every homeowner deserves the most efficient comfort solutions available, which is why HVAC rebates are so beneficial. 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. A variety of companies, organizations and even government entities are promoting rebates in 2023 to help everyone procure a new, high-efficiency HVAC system.
Rebates for High-Efficiency Furnaces
Lots of manufacturers of high-efficiency furnaces extend rebates toward buying a new system. These furnaces incorporate energy-efficient components such as variable-speed blower motors, which let the thermostat optimize how much heating is produced. It’s an easy way to decrease energy use overall. Local utilities also provide furnace rebates since less energy use results in less strain on the local energy grid.
The government’s ENERGY STAR® program is also helpful for securing a furnace rebate. You can submit your ZIP Code to find out which rebates you might be eligible for. Equipment displaying the ENERGY STAR® rating means it fulfills your region’s standards for energy-efficient comfort.
Air Conditioner Rebates
A lot of of the same rebates for high-efficiency furnaces are also useful for air conditioners. You can save hundreds on new installation for a system from a top brand such as Lennox. Just check with your local utility companies to find out which makes and models are eligible. In addition, you can easily 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.
Available Rebates for Smart Thermostats
A smart thermostat is an especially valuable upgrade to your home comfort system. With intelligent programming, you can fine-tune the daily schedule. Utility companies appreciate this kind of efficiency, and so most extend rebate programs for new smart thermostats. Over time, these rebates virtually permit you to get a free smart thermostat!
These 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, namely when heat waves or cold fronts come through. When registered 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 compared to rebates, tax credits are also available 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 can be claimed each year rather than only once. These credits are obtainable 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 particularly aimed toward heat pump technology, which transfers heat instead of producing it by combusting fuel. To motivate more people to transition to this energy-efficient comfort system, these rebates are significantly higher compared to incentives for AC units and furnaces.
If a 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 that meet 80-150% of the average income can pay for 50% of equipment and installation costs.