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 possible, 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. A variety of 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
Lots of manufacturers of high-efficiency furnaces provide rebates toward the cost of a new system. These furnaces feature energy-efficient components like variable-speed blower motors, which let the thermostat optimize how much heating is produced. It’s a great way to decrease energy use overall. Local utilities also provide 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 type in your ZIP Code to learn which rebates you may be qualified for. Equipment with the ENERGY STAR® rating means it fulfills your region’s standards for energy-efficient performance.
Air Conditioner Rebates
A lot of of the same rebates for high-efficiency furnaces are also suitable for air conditioners. You can save hundreds on new installation for a system from a top brand such as Lennox. Just talk to your local utility companies to learn which makes and models are suitable. Additionally, you can easily join federal and local rebates for even higher savings. Don’t hesitate to find out what's all available, because it can quickly add up to 10% of a new, high-efficiency cooling system
Potential Rebates for Smart Thermostats
A smart thermostat is an especially valuable upgrade to your home comfort system. With intelligent programming, you can optimize the daily schedule. Utility companies can benefit from this kind of efficiency, and so most provide rebate programs for new smart thermostats. In time, these rebates effectively allow you to get a free smart thermostat!
These utility companies also provide programs where they swap discounted rates for the capacity to adjust your thermostat during peak energy use. This helps avoid strain on the grid, namely when heat waves or cold fronts arrive. When enrolled in this program, your thermostat can automatically be changed by a few degrees.
Additional Ways to Save: Tax Credits for Energy-Efficient Equipment and Home Improvement Projects
Slightly different compared to 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 offered credits for up to 10% of the project’s cost. The revised credits are now worth 30% of the cost and may be claimed every year instead of only once. These credits are eligible for a much larger variety of projects, like home energy audits, electrical, insulation, ventilation, and even your doors and windows! The programs are fashioned to provide 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 incorporated separate legislation referred to 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 producing it by burning fuel. To persuade more people to change to this energy-efficient comfort system, these rebates are considerably higher than incentives for AC systems and furnaces.
If your 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 meeting 80-150% of the median income can pay for 50% of equipment and installation costs.