A quality HVAC system is essential for a comfortable and energy-efficient home, but it’s also a major investment. Everyone deserves the most effective 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 budget friendly.
HVAC efficiency standards are going up next year, so now’s an ideal time to compare your options. Various companies, organizations and even government entities are promoting 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 offer rebates toward the cost of a new system. These furnaces feature energy-efficient components such as variable-speed blower motors, which allow the thermostat to optimize how much heating is released. It’s a fantastic way to reduce energy use overall. Local utilities also share furnace rebates as less energy use means less strain on the local energy grid.
The government’s ENERGY STAR® program is also useful for acquiring a furnace rebate. You can enter your ZIP Code to learn which rebates you might be qualified for. Equipment featuring the ENERGY STAR® rating means it meets your region’s standards for energy-efficient operation.
Air Conditioner Rebates
Plenty 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. In addition, 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 quickly add up to 10% of a new, high-efficiency cooling system.
Potential Rebates for Smart Thermostats
A smart thermostat is a particularly valuable improvement 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 provide rebate programs for new smart thermostats. After some time, these rebates effectively allow you to get a free smart thermostat!
These utility companies also provide programs where they exchange discounted rates for the capacity to control your thermostat during peak energy use. This helps avoid strain on the grid, especially when heat waves or cold fronts arrive. When registered 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
Slightly different than 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 may be claimed every year as opposed to only once. These credits are obtainable 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 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 burning fuel. To encourage more people to convert to this energy-efficient comfort system, these rebates are considerably higher than incentives for AC units and furnaces.
If the household’s income is less than 80% of the local median, you can 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.