A quality HVAC system is vital for a comfortable and energy-efficient home, but it’s also a big investment. Every homeowner deserves the most productive comfort solutions achievable, which is why HVAC rebates are so important. They can help ensure high-efficiency furnaces, air conditioners and other equipment is more budget friendly.
HVAC efficiency standards are increasing next year, so now’s an excellent time to compare 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
Lots of manufacturers of high-efficiency furnaces extend rebates toward buying a new system. These furnaces include energy-efficient components such as variable-speed blower motors, which let the thermostat fine-tune how much heating is generated. It’s a fantastic way to reduce energy use overall. Local utilities also share furnace rebates because less energy use results in less strain on the local energy grid.
The government’s ENERGY STAR® program is also useful for obtaining a furnace rebate. You can type in your ZIP Code to learn which rebates you could be eligible for. Equipment displaying the ENERGY STAR® rating means it meets your region’s standards for energy-efficient comfort.
Air Conditioner Rebates
Many 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 leading brand like Lennox. Just talk to your local utility companies to verify which makes and models are eligible. Additionally, 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 quickly add up to 10% of a new, high-efficiency AC system.
Potential Rebates for Smart Thermostats
A smart thermostat is an incredibly valuable upgrade to your home comfort system. With intelligent programming, you can optimize the daily schedule. Utility companies highly value this degree of efficiency, and so most extend rebate programs for new smart thermostats. After some time, these rebates effectively allow you to get a free smart thermostat!
Local utility companies also create programs where they provide lower rates for the capacity to control your thermostat during peak energy use. This helps avoid strain on the grid, especially when heat waves or cold fronts come through. When registered in this program, your thermostat can 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 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 updated credits are now worth 30% of the cost and may be claimed every year rather than only once. These credits are obtainable for a much greater variety of projects, like 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 incorporated separate legislation referred to as the High-Efficiency Electric Homes and Rebates Act, or HEEHRA. This incentive is specially geared toward heat pump technology, which transfers heat instead of creating it by combusting fuel. To encourage more people to convert to this energy-efficient comfort system, these rebates are considerably higher versus incentives for AC systems and furnaces.
If a 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 making 80-150% of the median income can pay for 50% of equipment and installation costs.