A quality HVAC system is crucial for a comfortable and energy-efficient home, but it’s also a significant investment. Everyone deserves the most productive comfort solutions available, which is why HVAC rebates are so worthwhile. They can help make sure high-efficiency furnaces, air conditioners and other equipment is more affordable.
HVAC efficiency standards are climbing next year, so now’s an ideal time to explore your options. Different companies, organizations and even government entities are extending rebates in 2023 to help everyone acquire a new, high-efficiency HVAC system.
Rebates for High-Efficiency Furnaces
Many manufacturers of high-efficiency furnaces provide rebates for a new system. These furnaces include energy-efficient components such as variable-speed blower motors, which enable the thermostat to refine how much heating is released. It’s a fantastic way to reduce energy use overall. Local utilities also offer furnace rebates as less energy use translates to less strain on the local energy grid.
The government’s ENERGY STAR® program is also recommended for acquiring a furnace rebate. You can submit your ZIP Code to learn which rebates you might be approved for. Equipment displaying the ENERGY STAR® rating means it satisfies your region’s standards for energy-efficient performance.
Air Conditioner Rebates
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 efficient cooling from a top brand such as Lennox. Just talk to your local utility companies to learn which makes and models are entitled. What’s more, you can easily combine federal and local rebates for even more savings. Don’t hesitate to see what all you can find, because it can easily add up to 10% of a new, high-efficiency AC system.
Available Rebates for Smart Thermostats
A smart thermostat is an especially valuable improvement to your home comfort system. With intelligent programming, you can optimize 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 essentially enable you to get a free smart thermostat!
These utility companies also create programs where they exchange reduced rates for the capacity to adjust your thermostat during peak energy use. This helps minimize strain on the grid, especially when heat waves or cold fronts come through. When enrolled in this program, your thermostat may automatically be changed by a few degrees.
More Ways to Save: Tax Credits for Energy-Efficient Equipment and Home Improvement Projects
Somewhat different than rebates, tax credits are also offered for the purchase and installation of energy-efficient HVAC systems. For example, the Inflation Reduction Act restarted a program in 2021 that offered credits for up to 10% of the project’s cost. The updated credits are now worth 30% of the cost and may be claimed each year rather than only once. These credits are available for a much larger variety of projects, including home energy audits, electrical, insulation, ventilation, and even your doors and windows! The programs are designed to provide 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 referred to as 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 combusting fuel. To encourage more people to transition to this energy-efficient comfort system, these rebates are considerably higher versus incentives for AC units and furnaces.
If a household’s income is less than 80% of the local median, you are able to use the rebates to cover 100% of the costs of a new heat pump. Households that meet 80-150% of the median income can cover 50% of equipment and installation costs.