A well-designed HVAC system is vital for a comfortable and energy-efficient home, but it’s also a significant investment. Everyone deserves the most productive comfort solutions available, which is why HVAC rebates are so beneficial. They can help guarantee high-efficiency furnaces, air conditioners and other equipment is more budget friendly.
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 promoting rebates in 2023 to help everyone procure a new, high-efficiency HVAC system.
Rebates for High-Efficiency Furnaces
Numerous manufacturers of high-efficiency furnaces extend rebates toward the cost of a new system. These furnaces feature energy-efficient components such as variable-speed blower motors, which allow the thermostat to optimize how much heating is generated. It’s a great way to lower energy use overall. Local utilities also provide furnace rebates since less energy use means less strain on the local energy grid.
The government’s ENERGY STAR® program is also recommended for acquiring a furnace rebate. You can submit your ZIP Code to learn which rebates you could be approved for. Equipment featuring the ENERGY STAR® rating means it meets your region’s standards for energy-efficient comfort.
Air Conditioner Rebates
Plenty 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 check with your local utility companies to find out which makes and models are suitable. Additionally, you can usually combine federal and local rebates for even higher savings. Don’t hesitate to learn what's out there, because it can easily add up to 10% of a new, high-efficiency cooling system.
Available Rebates for Smart Thermostats
A smart thermostat is an especially valuable addition to your home comfort system. With intelligent programming, you can fine-tune the daily schedule. Utility companies appreciate this degree of efficiency, and so most provide rebate programs for new smart thermostats. Over time, these rebates essentially permit you to get a free smart thermostat!
Local utility companies also offer programs where they provide lower rates for the capacity to adjust your thermostat during peak energy use. This helps reduce strain on the grid, particularly when heat waves or cold fronts arrive. When enrolled in this program, your thermostat will automatically be adjusted by a few degrees.
Additional Ways to Save: Tax Credits for Energy-Efficient Equipment and Home Improvement Projects
Somewhat different than rebates, tax credits are also offered 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 can be claimed every year instead of 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 fashioned 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 included separate legislation known 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 producing it by burning fuel. To persuade more people to transition to this energy-efficient comfort system, these rebates are significantly higher than incentives for AC units and furnaces.
If a household’s income is less than 80% of the local median, you could 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.