A quality HVAC system is crucial for a comfortable and energy-efficient home, but it’s also a major investment. Everyone deserves the most efficient comfort solutions available, which is why HVAC rebates are so beneficial. They can help make sure high-efficiency furnaces, air conditioners and other equipment is more budget friendly.
HVAC efficiency standards are increasing next year, so now’s a great time to explore your options. Different companies, organizations and even government entities are extending rebates in 2023 to help everyone procure a new, high-efficiency HVAC system.
Receive a Tax Rebate by Installing a High Efficiency Furnace
Numerous manufacturers of high-efficiency furnaces extend rebates for a new system. These furnaces incorporate energy-efficient components such as variable-speed blower motors, which let the thermostat optimize how much heating is produced. It’s a fantastic way to decrease energy use overall. Local utilities also provide furnace rebates since less energy use translates to less strain on the local energy grid.
The government’s ENERGY STAR® program is also recommended for acquiring a furnace rebate. You can type in your ZIP Code to see which rebates you could 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 useful for air conditioners. You can save hundreds on new installation for a system from a leading brand like Lennox. Just check with your local utility companies to verify which makes and models are entitled. In addition, you can often bundle federal and local rebates for even higher savings. Don’t hesitate to find out what's all available, because it can quickly add up to 10% of a new, high-efficiency cooling system
2023's Rebates for Smart Home Accessories Like Smart Thermostats
A smart thermostat is a particularly 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 extend rebate programs for new smart thermostats. Over time, these rebates effectively permit you to get a free smart thermostat!
These utility companies also create programs where they exchange reduced rates for the ability to access your thermostat during peak energy use. This helps avoid strain on the grid, particularly when heat waves or cold fronts show up. When enrolled in this program, your thermostat may automatically be adjusted by a few degrees.
Other Incentives: High Efficiency Products and Home Improvement Credits
Slightly different than rebates, tax credits are also offered 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 revised credits are now worth 30% of the cost and may be claimed every year rather than only once. These credits are obtainable for a much wider variety of projects, such as home energy audits, electrical, insulation, ventilation, and even your doors and windows! The programs are tailored to provide 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 incorporated separate legislation called the High-Efficiency Electric Homes and Rebates Act, or HEEHRA. This incentive is particularly geared toward heat pump technology, which transfers heat instead of producing it by burning fuel. To persuade more people to convert to this energy-efficient comfort system, these rebates are considerably higher versus incentives for AC units and furnaces.
If your household’s income is below 80% of the local median, you could use the rebates to cover 100% of the costs of a new heat pump. Households meeting 80-150% of the average income can take care of 50% of equipment and installation costs.
