A well-designed HVAC system is essential for a comfortable and energy-efficient home, but it’s also a major investment. You deserve the most effective comfort solutions possible, which is why HVAC rebates are so beneficial. They can help ensure high-efficiency furnaces, air conditioners and other equipment is more affordable.
HVAC efficiency standards are going up next year, so now’s a great time to explore your options. Different companies, organizations and even government entities are extending rebates in 2023 to help everyone procure a new, high-efficiency HVAC system.
Rebates for High-Efficiency Furnaces
Numerous manufacturers of high-efficiency furnaces provide rebates for a new system. These furnaces incorporate energy-efficient components such as variable-speed blower motors, which enable the thermostat to fine-tune how much heating is produced. It’s an easy way to lower energy use overall. Local utilities also share furnace rebates since less energy use means less strain on the local energy grid.
The government’s ENERGY STAR® program is also helpful for obtaining a furnace rebate. You can type in your ZIP Code to see which rebates you could be approved for. Equipment with the ENERGY STAR® rating means it meets your region’s standards for energy-efficient performance.
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 equipment from a top brand such as Lennox. Just check with your local utility companies to learn which makes and models are eligible. Additionally, you can often bundle federal and local rebates for even higher savings. Don’t hesitate to see what all you can find, because it can easily add up to 10% of a new, high-efficiency AC system.
Obtainable Rebates for Smart Thermostats
A smart thermostat is a particularly valuable upgrade to your home comfort system. With intelligent programming, you can fine-tune the daily schedule. Utility companies appreciate this level of efficiency, and so most provide rebate programs for new smart thermostats. In time, these rebates effectively permit you to get a free smart thermostat!
Local utility companies also provide programs where they swap lower rates for the ability to adjust your thermostat during peak energy use. This helps reduce strain on the grid, especially when heat waves or cold fronts arrive. When registered in this program, your thermostat may automatically be adjusted by a few degrees.
Other 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 reactivated 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 as opposed to only once. These credits are eligible for a much larger 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 referred to as the High-Efficiency Electric Homes and Rebates Act, or HEEHRA. This incentive is specially aimed toward heat pump technology, which transfers heat instead of producing it by igniting fuel. To encourage more people to convert to this energy-efficient comfort system, these rebates are substantially higher versus incentives for AC systems and furnaces.
If a household’s income is below 80% of the local median, you can use the rebates to cover 100% of the costs of a new heat pump. Households meeting 80-150% of the average income can cover 50% of equipment and installation costs.