A quality HVAC system is vital for a comfortable and energy-efficient home, but it’s also a major investment. Everyone deserves the most productive comfort solutions possible, 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 climbing next year, so now’s an ideal time to explore your options. Various companies, organizations and even government entities are offering rebates in 2023 to help everyone secure a new, high-efficiency HVAC system.
Rebates for High-Efficiency Furnaces
Many manufacturers of high-efficiency furnaces extend rebates toward buying a new system. These furnaces incorporate energy-efficient components such as variable-speed blower motors, which enable the thermostat to fine-tune how much heating is released. It’s a great way to lower energy use overall. Local utilities also provide furnace rebates as 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 submit your ZIP Code to see which rebates you could be qualified for. Equipment featuring the ENERGY STAR® rating means it meets your region’s standards for energy-efficient performance.
Air Conditioner Rebates
A lot of 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 top brand like Lennox. Just talk to your local utility companies to verify which makes and models are suitable. What’s more, you can usually bundle federal and local rebates for even higher 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.
Obtainable Rebates for Smart Thermostats
A smart thermostat is a particularly valuable improvement to your home comfort system. With intelligent programming, you can enhance the daily schedule. Utility companies appreciate this level of efficiency, and so most extend rebate programs for new smart thermostats. After some time, these rebates essentially allow you to get a free smart thermostat!
Your utility companies also create programs where they swap lower rates for the ability to control your thermostat during peak energy use. This helps minimize strain on the grid, namely when heat waves or cold fronts arrive. When enrolled in this program, your thermostat may automatically be adjusted by a few degrees.
More Ways to Save: Tax Credits for Energy-Efficient Equipment and Home Improvement Projects
Somewhat different compared to rebates, tax credits are also available for the purchase and installation of energy-efficient HVAC equipment. For example, the Inflation Reduction Act reactivated a program in 2021 that supplied 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 instead of only once. These credits are obtainable for a much greater variety of projects, including 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 known as the High-Efficiency Electric Homes and Rebates Act, or HEEHRA. This incentive is especially aimed toward heat pump technology, which transfers heat instead of generating it by igniting fuel. To persuade more people to convert to this energy-efficient comfort system, these rebates are significantly higher versus incentives for AC units and furnaces.
If your household’s income is lower 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 median income can take care of 50% of equipment and installation costs.