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 effective comfort solutions available, which is why HVAC rebates are so important. They can help make sure high-efficiency furnaces, air conditioners and other equipment is more budget friendly.
HVAC efficiency standards are going up next year, so now’s a great time to compare your options. A variety of companies, organizations and even government entities are extending rebates in 2023 to help everyone acquire a new, high-efficiency HVAC system.
Rebates for High-Efficiency Furnaces
Many manufacturers of high-efficiency furnaces offer rebates for a new system. These furnaces incorporate energy-efficient components like variable-speed blower motors, which allow the thermostat to refine how much heating is released. It’s an easy way to reduce energy use overall. Local utilities also provide furnace rebates since less energy use translates to less strain on the local energy grid.
The government’s ENERGY STAR® program is also useful for acquiring a furnace rebate. You can enter your ZIP Code to see which rebates you may be approved for. Equipment featuring the ENERGY STAR® rating means it satisfies your region’s standards for energy-efficient comfort.
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 equipment from a leading brand like Lennox. Just talk to your local utility companies to verify which makes and models are eligible. Additionally, you can usually bundle federal and local rebates for even higher savings. Don’t hesitate to find out what's all available, because it can easily add up to 10% of a new, high-efficiency cooling system.
Available Rebates for Smart Thermostats
A smart thermostat is an incredibly valuable improvement to your home comfort system. With intelligent programming, you can enhance the daily schedule. Utility companies appreciate this kind of efficiency, and so most extend rebate programs for new smart thermostats. In time, these rebates virtually enable you to get a free smart thermostat!
These utility companies also provide programs where they provide lower rates for the capability to adjust your thermostat during peak energy use. This helps reduce strain on the grid, especially when heat waves or cold fronts come through. When registered in this program, your thermostat may automatically be adjusted by a few degrees.
More Ways to Save: Tax Credits for Energy-Efficient Equipment and Home Improvement Projects
A little 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 restarted 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 can be claimed every year instead of 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 designed to provide the most benefits for lower-income households, maximizing the improvements to HVAC efficiency across the country.
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 especially targeted toward heat pump technology, which transfers heat instead of generating it by igniting fuel. To encourage more people to transition to this energy-efficient comfort system, these rebates are considerably higher versus incentives for AC units and furnaces.
If your household’s income is less 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.