A dependable HVAC system is vital for a comfortable and energy-efficient home, but it’s also a major investment. Every homeowner deserves the most productive comfort solutions available, which is why HVAC rebates are so beneficial. They can help ensure high-efficiency furnaces, air conditioners and other equipment is more affordable.
HVAC efficiency standards are going up next year, so now’s an excellent time to explore your options. Different companies, organizations and even government entities are offering rebates in 2023 to help everyone procure a new, high-efficiency HVAC system.
Rebates for High-Efficiency Furnaces
Many manufacturers of high-efficiency furnaces extend rebates toward the cost of 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 released. It’s an easy way to lower energy use overall. Local utilities also share furnace rebates because less energy use means less strain on the local energy grid.
The government’s ENERGY STAR® program is also recommended for securing a furnace rebate. You can enter your ZIP Code to learn which rebates you might be qualified for. Equipment featuring the ENERGY STAR® rating means it satisfies your region’s standards for energy-efficient performance.
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 a system from a leading brand like Lennox. Just check with your local utility companies to find out which makes and models are eligible. Additionally, you can easily bundle federal and local rebates for even greater savings. Don’t hesitate to see what all you can find, 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 especially valuable addition 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 virtually permit you to get a free smart thermostat!
Local utility companies also offer programs where they exchange lower rates for the capability to control your thermostat during peak energy use. This helps reduce strain on the grid, especially when heat waves or cold fronts show up. When participating in this program, your thermostat may automatically be changed by a few degrees.
Additional Ways to Save: 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 restarted a program in 2021 that provided 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 available for a much greater variety of projects, including 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 nationwide.
New Legislation for Heat Pump Rebates
The recently passed Inflation Reduction Act incorporated separate legislation called the High-Efficiency Electric Homes and Rebates Act, or HEEHRA. This incentive is especially geared toward heat pump technology, which transfers heat instead of creating it by combusting fuel. To motivate more people to transition to this energy-efficient comfort system, these rebates are substantially higher compared to incentives for AC systems 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 making 80-150% of the average income can take care of 50% of equipment and installation costs.