A quality HVAC system is essential for a comfortable and energy-efficient home, but it’s also a big investment. Everyone deserves the most efficient comfort solutions achievable, 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 a great time to compare your options. A variety of companies, organizations and even government entities are promoting rebates in 2023 to help everyone acquire a new, high-efficiency HVAC system.
Rebates for High-Efficiency Furnaces
Lots of manufacturers of high-efficiency furnaces provide rebates for a new system. These furnaces incorporate energy-efficient components like variable-speed blower motors, which enable the thermostat to fine-tune how much heating is generated. It’s a fantastic way to reduce energy use overall. Local utilities also share furnace rebates since less energy use results in 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 may be eligible for. Equipment displaying 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 suitable for air conditioners. You can save hundreds on new installation for efficient cooling from a leading brand such as Lennox. Just talk to your local utility companies to find out which makes and models are eligible. What’s more, you can usually join federal and local rebates for even more savings. Don’t hesitate to see what all you can find, because it can quickly add up to 10% of a new, high-efficiency AC system.
Obtainable Rebates for Smart Thermostats
A smart thermostat is an incredibly valuable addition 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. Over time, these rebates essentially allow you to get a free smart thermostat!
Local utility companies also provide programs where they exchange lower rates for the ability to control your thermostat during peak energy use. This helps reduce strain on the grid, especially when heat waves or cold fronts come through. 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 from 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 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 instead of 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 tailored to offer 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 referred to as the High-Efficiency Electric Homes and Rebates Act, or HEEHRA. This incentive is especially targeted toward heat pump technology, which transfers heat instead of producing it by igniting fuel. To persuade more people to change to this energy-efficient comfort system, these rebates are substantially higher compared to incentives for AC units and furnaces.
If the household’s income is below 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 typical income can cover 50% of equipment and installation costs.