A dependable HVAC system is vital for a comfortable and energy-efficient home, but it’s also a significant investment. You deserve the most effective comfort solutions possible, which is why HVAC rebates are so important. They can help make sure 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. A variety of 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 offer rebates toward the cost of a new system. These furnaces include 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 lower energy use overall. Local utilities also offer furnace rebates since 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 enter your ZIP Code to learn which rebates you may be eligible 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 a system from a top brand like Lennox. Just talk to your local utility companies to verify which makes and models are suitable. What’s more, you can often bundle federal and local rebates for even greater savings. Don’t hesitate to learn what's out there, because it can easily add up to 10% of a new, high-efficiency AC system.
Available 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. Over time, these rebates effectively permit you to get a free smart thermostat!
Local utility companies also offer programs where they swap lower rates for the ability to adjust your thermostat during peak energy use. This helps reduce strain on the grid, namely when heat waves or cold fronts show up. When enrolled in this program, your thermostat can automatically be changed by a few degrees.
Additional Ways to Save: Tax Credits for Energy-Efficient Equipment and Home Improvement Projects
Slightly 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 supplied credits for up to 10% of the project’s cost. The new credits are now worth 30% of the cost and may be claimed each year instead of only once. These credits are obtainable for a much greater variety of projects, including 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 contained separate legislation known 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 creating it by combusting fuel. To encourage more people to convert to this energy-efficient comfort system, these rebates are substantially higher than incentives for AC systems 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 meeting 80-150% of the median income can take care of 50% of equipment and installation costs.