A dependable HVAC system is essential for a comfortable and energy-efficient home, but it’s also a big investment. Every homeowner deserves the most productive comfort solutions achievable, which is why HVAC rebates are so important. They can help ensure high-efficiency furnaces, air conditioners and other equipment is more affordable.
HVAC efficiency standards are increasing next year, so now’s an excellent time to explore your options. Various companies, organizations and even government entities are extending rebates in 2023 to help everyone acquire a new, high-efficiency HVAC system.
Rebates for High-Efficiency Furnaces
Lots of manufacturers of high-efficiency furnaces offer rebates toward the cost of a new system. These furnaces incorporate energy-efficient components like variable-speed blower motors, which enable the thermostat to optimize how much heating is produced. It’s a fantastic way to lower energy use overall. Local utilities also provide furnace rebates since less energy use means less strain on the local energy grid.
The government’s ENERGY STAR® program is also helpful for acquiring a furnace rebate. You can type in your ZIP Code to learn which rebates you could be approved for. Equipment featuring 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 useful for air conditioners. You can save hundreds on new installation for a system from a top brand like Lennox. Just check with your local utility companies to learn which makes and models are eligible. What’s more, you can usually join federal and local rebates for even more savings. Don’t hesitate to find out what's all available, because it can quickly 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 can benefit from this level of efficiency, and so most extend rebate programs for new smart thermostats. In time, these rebates essentially enable you to get a free smart thermostat!
Local utility companies also create programs where they swap reduced rates for the capability to access 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 will automatically be changed 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 reactivated 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 rather than only once. These credits are eligible for a much wider variety of projects, like home energy audits, electrical, insulation, ventilation, and even your doors and windows! The programs are designed 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 called 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 motivate more people to convert to this energy-efficient comfort system, these rebates are substantially higher than incentives for AC units and furnaces.
If your 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 meeting 80-150% of the average income can pay for 50% of equipment and installation costs.