A quality HVAC system is crucial for a comfortable and energy-efficient home, but it’s also a big investment. You deserve the most effective comfort solutions achievable, which is why HVAC rebates are so important. They can help guarantee 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 check out your options. A variety of 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
Lots of manufacturers of high-efficiency furnaces provide rebates toward buying a new system. These furnaces incorporate energy-efficient components such as variable-speed blower motors, which allow the thermostat to fine-tune how much heating is generated. It’s a great way to decrease energy use overall. Local utilities also provide furnace rebates because less energy use means less strain on the local energy grid.
The government’s ENERGY STAR® program is also useful for obtaining a furnace rebate. You can enter 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 comfort.
Earning a Rebate for a High Efficiency Air Conditioner
Plenty of of the same rebates for high-efficiency furnaces are also suitable for air conditioners. You can save hundreds on new installation for equipment from a leading brand such as Lennox. Just check with your local utility companies to learn which makes and models are suitable. In addition, you can usually join federal and local rebates for even more 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
2023's Rebates for Smart Home Accessories Like 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 appreciate this degree of efficiency, and so most offer 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 reduced rates for the capacity to adjust your thermostat during peak energy use. This helps minimize strain on the grid, particularly when heat waves or cold fronts come through. When participating in this program, your thermostat may automatically be adjusted by a few degrees.
Other Cost-Saving Options: High Efficiency Products and Home Improvement Credits
Slightly different compared to rebates, tax credits are also offered for the purchase and installation of energy-efficient HVAC systems. For example, the Inflation Reduction Act reactivated a program in 2021 that offered credits for up to 10% of the project’s cost. The updated credits are now worth 30% of the cost and can be claimed each year as opposed to only once. These credits are eligible for a much wider variety of projects, like home energy audits, electrical, insulation, ventilation, and even your doors and windows! The programs are fashioned 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 called the High-Efficiency Electric Homes and Rebates Act, or HEEHRA. This incentive is particularly aimed toward heat pump technology, which transfers heat instead of producing it by burning fuel. To encourage more people to convert 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 could use the rebates to cover 100% of the costs of a new heat pump. Households making 80-150% of the typical income can take care of 50% of equipment and installation costs.