A dependable HVAC system is crucial for a comfortable and energy-efficient home, but it’s also a big investment. You deserve the most productive comfort solutions possible, which is why HVAC rebates are so beneficial. They can help make sure high-efficiency furnaces, air conditioners and other equipment is more affordable.
HVAC efficiency standards are climbing next year, so now’s a great time to check out your options. Various companies, organizations and even government entities are extending rebates in 2023 to help everyone secure 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 such as variable-speed blower motors, which enable the thermostat to fine-tune how much heating is generated. It’s an easy way to lower energy use overall. Local utilities also share furnace rebates because 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 type in your ZIP Code to find out which rebates you could be approved for. Equipment with the ENERGY STAR® rating means it meets 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 top brand such as Lennox. Just check with your local utility companies to find out which makes and models are entitled. In addition, you can usually combine federal and local rebates for even greater 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.
Available Rebates for Smart Thermostats
A smart thermostat is an incredibly valuable upgrade 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 enable you to get a free smart thermostat!
Local utility companies also create programs where they swap reduced rates for the capacity to access your thermostat during peak energy use. This helps avoid strain on the grid, particularly when heat waves or cold fronts come through. When registered in this program, your thermostat may automatically be corrected by a few degrees.
Additional Ways to Save: Tax Credits for Energy-Efficient Equipment and Home Improvement Projects
Slightly different from rebates, tax credits are also available for the purchase and installation of energy-efficient HVAC systems. For example, the Inflation Reduction Act reactivated 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 every year instead of only once. These credits are eligible for a much larger variety of projects, including home energy audits, electrical, insulation, ventilation, and even your doors and windows! The programs are fashioned to offer 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 included separate legislation called the High-Efficiency Electric Homes and Rebates Act, or HEEHRA. This incentive is specially geared toward heat pump technology, which transfers heat instead of generating it by combusting fuel. To motivate more people to transition 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 below 80% of the local median, you can 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.