A quality HVAC system is vital for a comfortable and energy-efficient home, but it’s also a significant investment. You deserve the most effective comfort solutions available, which is why HVAC rebates are so worthwhile. 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 explore your options. Various companies, organizations and even government entities are promoting 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 extend rebates for a new system. These furnaces incorporate energy-efficient components such as variable-speed blower motors, which allow the thermostat to fine-tune how much heating is produced. It’s a great way to decrease energy use overall. Local utilities also offer furnace rebates since less energy use means less strain on the local energy grid.
The government’s ENERGY STAR® program is also useful for obtaining a furnace rebate. You can type in your ZIP Code to learn which rebates you might be eligible for. Equipment displaying the ENERGY STAR® rating means it fulfills your region’s standards for energy-efficient comfort.
Air Conditioner Rebates
Many of the same rebates for high-efficiency furnaces are also applicable to air conditioners. You can save hundreds on new installation for efficient cooling from a leading brand like Lennox. Just consult your local utility companies to learn which makes and models are suitable. Additionally, you can easily join federal and local rebates for even more 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.
Obtainable Rebates for Smart Thermostats
A smart thermostat is an incredibly valuable upgrade to your home comfort system. With intelligent programming, you can optimize the daily schedule. Utility companies highly value this level of efficiency, and so most extend rebate programs for new smart thermostats. Over time, these rebates effectively permit you to get a free smart thermostat!
Local utility companies also offer programs where they provide discounted 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 show up. When registered in this program, your thermostat may automatically be adjusted by a few degrees.
Additional Ways to Save: Tax Credits for Energy-Efficient Equipment and Home Improvement Projects
A little different compared to rebates, tax credits are also promoted for the purchase and installation of energy-efficient HVAC systems. 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 each year as opposed to only once. These credits are available for a much larger variety of projects, such as 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 across the country.
New Legislation for Heat Pump Rebates
The recently passed Inflation Reduction Act contained 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 burning fuel. To motivate more people to transition to this energy-efficient comfort system, these rebates are significantly higher compared to incentives for AC units and furnaces.
If your 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 meeting 80-150% of the average income can pay for 50% of equipment and installation costs.