A dependable HVAC system is vital for a comfortable and energy-efficient home, but it’s also a significant investment. Every homeowner deserves the most productive comfort solutions achievable, which is why HVAC rebates are so worthwhile. 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 a great time to explore your options. Various 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
Many manufacturers of high-efficiency furnaces provide rebates toward buying a new system. These furnaces feature energy-efficient components like variable-speed blower motors, which enable the thermostat to refine how much heating is released. It’s a great way to lower 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 recommended for acquiring a furnace rebate. You can submit your ZIP Code to see which rebates you could be qualified for. Equipment featuring the ENERGY STAR® rating means it satisfies your region’s standards for energy-efficient performance.
Air Conditioner Rebates
Many of the same rebates for high-efficiency furnaces are also useful 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 verify which makes and models are eligible. Additionally, you can often bundle federal and local rebates for even greater savings. Don’t hesitate to find out what's all available, because it can quickly add up to 10% of a new, high-efficiency AC system.
Available Rebates for Smart Thermostats
A smart thermostat is a particularly valuable upgrade to your home comfort system. With intelligent programming, you can enhance the daily schedule. Utility companies can benefit from this level of efficiency, and so most offer rebate programs for new smart thermostats. In time, these rebates effectively permit you to get a free smart thermostat!
Local utility companies also create programs where they provide lower rates for the capacity to adjust your thermostat during peak energy use. This helps avoid strain on the grid, especially when heat waves or cold fronts show up. When participating 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 compared to 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 supplied credits for up to 10% of the project’s cost. The new credits are now worth 30% of the cost and can be claimed every year rather than only once. These credits are obtainable for a much wider variety of projects, like home energy audits, electrical, insulation, ventilation, and even your doors and windows! The programs are tailored to provide 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 referred to 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 igniting fuel. To encourage more people to transition to this energy-efficient comfort system, these rebates are significantly higher versus incentives for AC systems and furnaces.
If a 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 making 80-150% of the average income can cover 50% of equipment and installation costs.