A well-designed HVAC system is vital for a comfortable and energy-efficient home, but it’s also a major investment. You deserve the most efficient comfort solutions available, which is why HVAC rebates are so beneficial. They can help make sure high-efficiency furnaces, air conditioners and other equipment is more affordable.
HVAC efficiency standards are increasing next year, so now’s an excellent time to check out your options. Different companies, organizations and even government entities are extending rebates in 2023 to help everyone secure a new, high-efficiency HVAC system.
Rebates for High-Efficiency Furnaces
Numerous manufacturers of high-efficiency furnaces extend rebates toward buying a new system. These furnaces feature energy-efficient components such as variable-speed blower motors, which let the thermostat refine how much heating is produced. It’s an easy way to lower energy use overall. Local utilities also provide 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 acquiring a furnace rebate. You can type in your ZIP Code to learn which rebates you may be eligible for. Equipment featuring the ENERGY STAR® rating means it satisfies your region’s standards for energy-efficient performance.
Air Conditioner Rebates
Plenty of 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 top brand such as Lennox. Just talk to your local utility companies to learn which makes and models are entitled. In addition, you can often join federal and local rebates for even more savings. Don’t hesitate to see what all you can find, because it can easily add up to 10% of a new, high-efficiency air conditioner.
Available Rebates for Smart Thermostats
A smart thermostat is an especially valuable improvement to your home comfort system. With intelligent programming, you can enhance the daily schedule. Utility companies highly value 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 offer programs where they exchange lower rates for the ability to adjust your thermostat during peak energy use. This helps avoid strain on the grid, namely when heat waves or cold fronts show up. When enrolled in this program, your thermostat will automatically be corrected 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 promoted for the purchase and installation of energy-efficient HVAC systems. For example, the Inflation Reduction Act restarted a program in 2021 that provided credits for up to 10% of the project’s cost. The new credits are now worth 30% of the cost and may be claimed every year instead of only once. These credits are available for a much greater variety of projects, such as 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 nationwide.
New Legislation for Heat Pump Rebates
The recently passed Inflation Reduction Act included separate legislation called the High-Efficiency Electric Homes and Rebates Act, or HEEHRA. This incentive is especially geared toward heat pump technology, which transfers heat instead of producing it by combusting fuel. To motivate more people to change to this energy-efficient comfort system, these rebates are significantly higher compared to incentives for AC systems and furnaces.
If your household’s income is lower 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 that meet 80-150% of the median income can cover 50% of equipment and installation costs.