A dependable HVAC system is vital for a comfortable and energy-efficient home, but it’s also a big investment. Everyone deserves the most effective comfort solutions available, which is why HVAC rebates are so worthwhile. They can help guarantee high-efficiency furnaces, air conditioners and other equipment is more budget friendly.
HVAC efficiency standards are climbing next year, so now’s an ideal time to compare your options. A variety of companies, organizations and even government entities are offering rebates in 2023 to help everyone secure a new, high-efficiency HVAC system.
Rebates for High-Efficiency Furnaces
Numerous manufacturers of high-efficiency furnaces offer rebates toward the cost of a new system. These furnaces incorporate energy-efficient components like variable-speed blower motors, which enable the thermostat to fine-tune how much heating is produced. It’s a fantastic way to decrease energy use overall. Local utilities also provide 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 acquiring a furnace rebate. You can submit your ZIP Code to find out which rebates you might be approved for. Equipment featuring the ENERGY STAR® rating means it satisfies your region’s standards for energy-efficient comfort.
Air Conditioner Rebates
Plenty 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 leading brand like Lennox. Just talk to your local utility companies to verify which makes and models are entitled. Additionally, you can often join federal and local rebates for even greater savings. Don’t hesitate to find out what's all available, because it can easily 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 enhance the daily schedule. Utility companies appreciate this kind of efficiency, and so most extend rebate programs for new smart thermostats. After some time, these rebates essentially allow you to get a free smart thermostat!
Your utility companies also provide programs where they swap reduced rates for the ability to control your thermostat during peak energy use. This helps avoid strain on the grid, particularly when heat waves or cold fronts come through. When participating in this program, your thermostat will automatically be adjusted by a few degrees.
Other Ways to Save: Tax Credits for Energy-Efficient Equipment and Home Improvement Projects
A little different from rebates, tax credits are also offered for the purchase and installation of energy-efficient HVAC systems. For example, the Inflation Reduction Act restarted 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 every year as opposed to only once. These credits are eligible for a much larger variety of projects, like home energy audits, electrical, insulation, ventilation, and even your doors and windows! The programs are fashioned 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 incorporated separate legislation referred to as the High-Efficiency Electric Homes and Rebates Act, or HEEHRA. This incentive is specially aimed 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 considerably higher than incentives for AC systems and furnaces.
If a 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 average income can pay for 50% of equipment and installation costs.