A well-designed HVAC system is essential for a comfortable and energy-efficient home, but it’s also a big investment. Everyone deserves the most effective comfort solutions achievable, which is why HVAC rebates are so worthwhile. They can help ensure 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 explore your options. A variety of 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
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 generated. It’s a fantastic way to decrease energy use overall. Local utilities also provide furnace rebates because less energy use results in less strain on the local energy grid.
The government’s ENERGY STAR® program is also recommended for securing a furnace rebate. You can type in your ZIP Code to learn which rebates you might be qualified for. Equipment featuring the ENERGY STAR® rating means it fulfills your region’s standards for energy-efficient comfort.
Air Conditioner Rebates
Many of the same rebates for high-efficiency furnaces are also suitable for air conditioners. You can save hundreds on new installation for efficient cooling from a top brand such as Lennox. Just consult your local utility companies to find out which makes and models are eligible. Additionally, you can usually combine federal and local rebates for even greater savings. Don’t hesitate to find out what's all available, because it can easily add up to 10% of a new, high-efficiency AC system.
Obtainable Rebates for Smart Thermostats
A smart thermostat is an especially valuable improvement to your home comfort system. With intelligent programming, you can fine-tune the daily schedule. Utility companies appreciate this kind of efficiency, and so most offer rebate programs for new smart thermostats. After some time, these rebates essentially permit you to get a free smart thermostat!
Local utility companies also offer programs where they provide discounted rates for the capability to adjust your thermostat during peak energy use. This helps reduce strain on the grid, namely when heat waves or cold fronts come through. When registered 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 than rebates, tax credits are also available for the purchase and installation of energy-efficient HVAC systems. 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 may be claimed each year as opposed to only once. These credits are obtainable for a much greater variety of projects, such as home energy audits, electrical, insulation, ventilation, and even your doors and windows! The programs are tailored to share 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 contained separate legislation referred to as the High-Efficiency Electric Homes and Rebates Act, or HEEHRA. This incentive is especially aimed toward heat pump technology, which transfers heat instead of producing it by igniting fuel. To persuade more people to convert to this energy-efficient comfort system, these rebates are significantly higher compared to incentives for AC units and furnaces.
If the 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 that meet 80-150% of the typical income can take care of 50% of equipment and installation costs.