A dependable HVAC system is essential for a comfortable and energy-efficient home, but it’s also a major investment. You deserve 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 going up next year, so now’s a great time to check out your options. A variety of 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
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 refine how much heating is produced. It’s an easy way to decrease energy use overall. Local utilities also offer furnace rebates since 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 see which rebates you could be qualified for. Equipment featuring 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 applicable to air conditioners. You can save hundreds on new installation for a system from a top brand like Lennox. Just consult your local utility companies to learn which makes and models are suitable. Additionally, you can usually bundle 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 air conditioner
Obtainable Rebates for Smart Thermostats
A smart thermostat is a particularly valuable addition to your home comfort system. With intelligent programming, you can fine-tune the daily schedule. Utility companies appreciate this level of efficiency, and so most provide rebate programs for new smart thermostats. Over time, these rebates essentially allow you to get a free smart thermostat!
These utility companies also offer programs where they provide discounted rates for the ability to adjust your thermostat during peak energy use. This helps avoid strain on the grid, especially when heat waves or cold fronts come through. When enrolled in this program, your thermostat may automatically be corrected by a few degrees.
Other 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 restarted 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 can be claimed each year as opposed to only once. These credits are available for a much larger variety of projects, including home energy audits, electrical, insulation, ventilation, and even your doors and windows! The programs are tailored 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 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 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 the household’s income is less than 80% of the local median, you could use the rebates to cover 100% of the costs of a new heat pump. Households that meet 80-150% of the average income can pay for 50% of equipment and installation costs.