A quality HVAC system is vital for a comfortable and energy-efficient home, but it’s also a major investment. You deserve the most productive comfort solutions achievable, which is why HVAC rebates are so important. 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 a great time to explore your options. A variety of companies, organizations and even government entities are extending 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 provide rebates toward buying a new system. These furnaces include energy-efficient components such as variable-speed blower motors, which let the thermostat refine how much heating is released. It’s a fantastic way to decrease energy use overall. Local utilities also provide furnace rebates since less energy use translates to less strain on the local energy grid.
The government’s ENERGY STAR® program is also helpful for acquiring a furnace rebate. You can enter your ZIP Code to find out which rebates you could be approved for. Equipment featuring the ENERGY STAR® rating means it meets your region’s standards for energy-efficient operation.
Air Conditioner Rebates
Many of the same rebates for high-efficiency furnaces are also useful for air conditioners. You can save hundreds on new installation for efficient cooling from a leading brand such as Lennox. Just check with your local utility companies to learn which makes and models are suitable. Additionally, you can usually bundle 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
Obtainable Rebates for Smart Thermostats
A smart thermostat is an incredibly valuable improvement to your home comfort system. With intelligent programming, you can optimize the daily schedule. Utility companies appreciate this degree of efficiency, and so most offer rebate programs for new smart thermostats. Over time, these rebates effectively permit you to get a free smart thermostat!
These utility companies also create programs where they provide discounted rates for the capability to adjust your thermostat during peak energy use. This helps avoid strain on the grid, especially when heat waves or cold fronts show up. When participating in this program, your thermostat can automatically be adjusted by a few degrees.
Other Ways to Save: Tax Credits for Energy-Efficient Equipment and Home Improvement Projects
Slightly different compared to rebates, tax credits are also offered 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 revised 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 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 all over the country.
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 targeted toward heat pump technology, which transfers heat instead of generating it by igniting fuel. To persuade more people to change to this energy-efficient comfort system, these rebates are considerably higher versus incentives for AC systems and furnaces.
If the household’s income is less than 80% of the local median, you could use the rebates to cover 100% of the costs of a new heat pump. Households making 80-150% of the average income can take care of 50% of equipment and installation costs.