A well-designed HVAC system is essential for a comfortable and energy-efficient home, but it’s also a major investment. Everyone deserves the most productive comfort solutions available, which is why HVAC rebates are so worthwhile. They can help make sure high-efficiency furnaces, air conditioners and other equipment is more budget friendly.
HVAC efficiency standards are climbing next year, so now’s an ideal time to compare your options. Different companies, organizations and even government entities are offering rebates in 2023 to help everyone procure a new, high-efficiency HVAC system.
Rebates for High-Efficiency Furnaces
Lots of manufacturers of high-efficiency furnaces offer rebates toward buying a new system. These furnaces include energy-efficient components such as variable-speed blower motors, which allow the thermostat to refine how much heating is generated. It’s an easy way to lower energy use overall. Local utilities also offer furnace rebates as less energy use results in less strain on the local energy grid.
The government’s ENERGY STAR® program is also useful for securing a furnace rebate. You can submit your ZIP Code to see which rebates you might be eligible for. Equipment with the ENERGY STAR® rating means it fulfills your region’s standards for energy-efficient comfort.
Air Conditioner Rebates
Plenty 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 such as Lennox. Just consult your local utility companies to verify which makes and models are eligible. What’s more, you can often combine federal and local rebates for even more savings. Don’t hesitate to find out what's all available, because it can easily add up to 10% of a new, high-efficiency air conditioner.
Available Rebates for Smart Thermostats
A smart thermostat is an especially valuable addition to your home comfort system. With intelligent programming, you can enhance the daily schedule. Utility companies appreciate this kind of efficiency, and so most provide rebate programs for new smart thermostats. Over time, these rebates essentially enable you to get a free smart thermostat!
These utility companies also offer programs where they swap reduced 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 registered in this program, your thermostat can automatically be corrected by a few degrees.
Other Ways to Save: Tax Credits for Energy-Efficient Equipment and Home Improvement Projects
A little different compared to 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 new credits are now worth 30% of the cost and can be claimed every year rather than 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 fashioned to provide 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 referred to 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 combusting fuel. To motivate more people to change to this energy-efficient comfort system, these rebates are considerably higher than incentives for AC systems and furnaces.
If a 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 average income can take care of 50% of equipment and installation costs.