A quality HVAC system is vital for a comfortable and energy-efficient home, but it’s also a significant investment. You deserve the most productive comfort solutions available, which is why HVAC rebates are so important. They can help ensure high-efficiency furnaces, air conditioners and other equipment is more affordable.
HVAC efficiency standards are climbing next year, so now’s a great time to check out your options. Different companies, organizations and even government entities are extending rebates in 2023 to help everyone procure a new, high-efficiency HVAC system.
Receive a Tax Rebate by Installing a High Efficiency Furnace
Lots of manufacturers of high-efficiency furnaces provide rebates for a new system. These furnaces include 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 results in less strain on the local energy grid.
The government’s ENERGY STAR® program is also useful for securing a furnace rebate. You can submit your ZIP Code to find out which rebates you may be qualified for. Equipment with the ENERGY STAR® rating means it satisfies your region’s standards for energy-efficient performance.
Rebates for Air Conditioning Systems
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 equipment from a top brand like Lennox. Just consult your local utility companies to verify which makes and models are eligible. What’s more, you can usually bundle federal and local rebates for even higher 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 Home Accessories Like Smart Thermostats
A smart thermostat is an especially valuable addition to your home comfort system. With intelligent programming, you can enhance the daily schedule. Utility companies highly value this kind of efficiency, and so most extend 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 swap reduced rates for the capability to adjust your thermostat during peak energy use. This helps reduce strain on the grid, particularly when heat waves or cold fronts arrive. When enrolled in this program, your thermostat can automatically be corrected by a few degrees.
Other Cost-Saving Options: Tax Credits for Energy-Efficient Equipment and Home Improvement Projects
Slightly different from rebates, tax credits are also promoted for the purchase and installation of energy-efficient HVAC equipment. For example, the Inflation Reduction Act reactivated a program in 2021 that offered credits for up to 10% of the project’s cost. The new credits are now worth 30% of the cost and can be claimed every year as opposed to only once. These credits are obtainable for a much wider variety of projects, like home energy audits, electrical, insulation, ventilation, and even your doors and windows! The programs are tailored 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 contained separate legislation called the High-Efficiency Electric Homes and Rebates Act, or HEEHRA. This incentive is specially aimed toward heat pump technology, which transfers heat instead of generating it by burning fuel. To persuade more people to convert to this energy-efficient comfort system, these rebates are significantly higher compared to 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 cover 50% of equipment and installation costs.