A quality HVAC system is essential for a comfortable and energy-efficient home, but it’s also a big investment. You deserve the most efficient comfort solutions available, which is why HVAC rebates are so important. 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 compare your options. Various companies, organizations and even government entities are promoting 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 extend rebates toward buying a new system. These furnaces feature energy-efficient components such as variable-speed blower motors, which enable the thermostat to fine-tune how much heating is released. It’s a fantastic way to reduce energy use overall. Local utilities also share furnace rebates as less energy use means less strain on the local energy grid.
The government’s ENERGY STAR® program is also helpful for acquiring a furnace rebate. You can type in your ZIP Code to see which rebates you may be qualified for. Equipment with the ENERGY STAR® rating means it fulfills your region’s standards for energy-efficient operation.
Air Conditioner Rebates
A lot of of the same rebates for high-efficiency furnaces are also suitable for air conditioners. You can save hundreds on new installation for a system from a leading brand like Lennox. Just check with your local utility companies to find out which makes and models are entitled. In addition, you can easily join federal and local rebates for even higher savings. Don’t hesitate to find out what's all available, because it can quickly add up to 10% of a new, high-efficiency cooling system
Obtainable 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 extend rebate programs for new smart thermostats. In time, these rebates virtually permit you to get a free smart thermostat!
Your utility companies also provide programs where they swap discounted rates for the capability to adjust your thermostat during peak energy use. This helps avoid strain on the grid, particularly when heat waves or cold fronts show up. When participating in this program, your thermostat may automatically be adjusted by a few degrees.
Additional 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 revised credits are now worth 30% of the cost and can be claimed every year as opposed to only once. These credits are obtainable for a much larger variety of projects, including 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 all over the country.
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 specially targeted toward heat pump technology, which transfers heat instead of producing it by igniting fuel. To motivate more people to convert to this energy-efficient comfort system, these rebates are significantly higher compared to incentives for AC units and furnaces.
If a household’s income is below 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 typical income can take care of 50% of equipment and installation costs.