A well-designed 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 possible, which is why HVAC rebates are so beneficial. They can help ensure high-efficiency furnaces, air conditioners and other equipment is more budget friendly.
HVAC efficiency standards are climbing next year, so now’s an excellent time to explore your options. A variety of companies, organizations and even government entities are offering rebates in 2023 to help everyone secure a new, high-efficiency HVAC system.
Receive a Tax Rebate by Installing a High Efficiency Furnace
Numerous manufacturers of high-efficiency furnaces provide rebates toward buying a new system. These furnaces incorporate energy-efficient components such as variable-speed blower motors, which let the thermostat refine how much heating is generated. It’s an easy way to decrease energy use overall. Local utilities also offer furnace rebates because less energy use translates to less strain on the local energy grid.
The government’s ENERGY STAR® program is also helpful for acquiring a furnace rebate. You can submit your ZIP Code to learn which rebates you may be eligible for. Equipment with the ENERGY STAR® rating means it meets your region’s standards for energy-efficient performance.
Earning a Rebate for a High Efficiency Air Conditioner
Many of the same rebates for high-efficiency furnaces are also applicable to 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. In addition, you can easily bundle federal and local rebates for even more savings. Don’t hesitate to see what all you can find, because it can easily add up to 10% of a new, high-efficiency cooling system
2023's Rebates for Smart Thermostats
A smart thermostat is a particularly valuable improvement to your home comfort system. With intelligent programming, you can enhance the daily schedule. Utility companies appreciate this level of efficiency, and so most extend rebate programs for new smart thermostats. After some time, these rebates virtually permit you to get a free smart thermostat!
Your utility companies also create programs where they swap discounted rates for the capacity to access your thermostat during peak energy use. This helps avoid strain on the grid, namely when heat waves or cold fronts arrive. When participating in this program, your thermostat can automatically be changed by a few degrees.
More Ways to Save: High Efficiency Products and Home Improvement Credits
Somewhat different compared to rebates, tax credits are also promoted for the purchase and installation of energy-efficient HVAC equipment. For example, the Inflation Reduction Act reactivated 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 may be claimed each year rather than only once. These credits are available for a much wider variety of projects, including home energy audits, electrical, insulation, ventilation, and even your doors and windows! The programs are designed 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 included separate legislation known as the High-Efficiency Electric Homes and Rebates Act, or HEEHRA. This incentive is specially aimed toward heat pump technology, which transfers heat instead of producing it by burning fuel. To encourage more people to convert to this energy-efficient comfort system, these rebates are considerably higher versus incentives for AC units and furnaces.
If the 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 making 80-150% of the average income can cover 50% of equipment and installation costs.