A dependable HVAC system is vital for a comfortable and energy-efficient home, but it’s also a big investment. You deserve the most productive comfort solutions possible, which is why HVAC rebates are so worthwhile. They can help guarantee high-efficiency furnaces, air conditioners and other equipment is more affordable.
HVAC efficiency standards are climbing next year, so now’s an ideal time to compare your options. Different 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
Lots of manufacturers of high-efficiency furnaces offer rebates toward buying a new system. These furnaces include energy-efficient components such as variable-speed blower motors, which allow the thermostat to optimize how much heating is generated. It’s a fantastic way to reduce energy use overall. Local utilities also offer furnace rebates as 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 find out which rebates you might be qualified for. Equipment displaying the ENERGY STAR® rating means it satisfies your region’s standards for energy-efficient operation.
Air Conditioner Rebates
Many 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 leading brand like Lennox. Just consult your local utility companies to learn which makes and models are suitable. Additionally, you can usually bundle federal and local rebates for even higher 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.
Available Rebates for Smart Thermostats
A smart thermostat is an especially valuable addition to your home comfort system. With intelligent programming, you can enhance the daily schedule. Utility companies can benefit from this degree of efficiency, and so most provide rebate programs for new smart thermostats. Over time, these rebates essentially allow you to get a free smart thermostat!
Local utility companies also create programs where they swap lower rates for the capability 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 registered in this program, your thermostat can automatically be changed by a few degrees.
Other Ways to Save: Tax Credits for Energy-Efficient Equipment and Home Improvement Projects
Slightly different from rebates, tax credits are also available 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 new credits are now worth 30% of the cost and can be claimed each year rather than only once. These credits are eligible 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 offer 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 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 creating it by combusting fuel. To persuade more people to transition to this energy-efficient comfort system, these rebates are considerably higher than incentives for AC systems and furnaces.
If the 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 meeting 80-150% of the typical income can cover 50% of equipment and installation costs.