A dependable HVAC system is essential for a comfortable and energy-efficient home, but it’s also a big investment. Everyone deserves the most productive comfort solutions possible, which is why HVAC rebates are so beneficial. They can help ensure 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 check out your options. Different companies, organizations and even government entities are promoting rebates in 2023 to help everyone procure a new, high-efficiency HVAC system.
Furnace Rebates Require High Efficiency Models
Lots of 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 let the thermostat fine-tune how much heating is released. It’s a fantastic way to decrease energy use overall. Local utilities also provide furnace rebates as 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 see which rebates you might be eligible for. Equipment displaying the ENERGY STAR® rating means it satisfies your region’s standards for energy-efficient performance.
Rebates for Air Conditioning Systems
Many 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 learn which makes and models are suitable. What’s more, you can easily bundle federal and local rebates for even more savings. Don’t hesitate to see what all you can find, 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 incredibly valuable improvement 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 offer rebate programs for new smart thermostats. Over time, these rebates essentially enable you to get a free smart thermostat!
Local utility companies also provide programs where they provide lower rates for the capability to control your thermostat during peak energy use. This helps minimize strain on the grid, particularly when heat waves or cold fronts come through. When participating in this program, your thermostat will automatically be corrected by a few degrees.
More Cost-Saving Options: Tax Credits for Energy-Efficient Equipment and Home Improvement Projects
Somewhat different than 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 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 instead of 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 tailored to provide 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 included separate legislation called the High-Efficiency Electric Homes and Rebates Act, or HEEHRA. This incentive is especially aimed toward heat pump technology, which transfers heat instead of producing it by igniting fuel. To persuade more people to change to this energy-efficient comfort system, these rebates are substantially higher versus incentives for AC units and furnaces.
If a 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 average income can take care of 50% of equipment and installation costs.