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 possible, which is why HVAC rebates are so beneficial. They can help guarantee high-efficiency furnaces, air conditioners and other equipment is more affordable.
HVAC efficiency standards are increasing next year, so now’s an ideal time to compare your options. Different companies, organizations and even government entities are extending rebates in 2023 to help everyone procure a new, high-efficiency HVAC system.
Rebates for High-Efficiency Furnaces
Numerous manufacturers of high-efficiency furnaces extend rebates toward the cost of a new system. These furnaces include energy-efficient components such as variable-speed blower motors, which enable the thermostat to fine-tune how much heating is produced. It’s a great way to decrease energy use overall. Local utilities also offer furnace rebates since less energy use means 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 learn which rebates you might be qualified for. Equipment featuring the ENERGY STAR® rating means it satisfies 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 learn which makes and models are suitable. What’s more, you can often combine federal and local rebates for even more savings. Don’t hesitate to learn what's out there, because it can easily add up to 10% of a new, high-efficiency air conditioner
Potential Rebates for Smart Thermostats
A smart thermostat is an especially valuable upgrade to your home comfort system. With intelligent programming, you can optimize the daily schedule. Utility companies appreciate this degree of efficiency, and so most offer rebate programs for new smart thermostats. Over time, these rebates essentially permit you to get a free smart thermostat!
These utility companies also provide programs where they swap lower rates for the capability to control your thermostat during peak energy use. This helps avoid strain on the grid, namely when heat waves or cold fronts come through. 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
Somewhat different from rebates, tax credits are also available for the purchase and installation of energy-efficient HVAC equipment. For example, the Inflation Reduction Act reactivated a program in 2021 that offered credits for up to 10% of the project’s cost. The updated credits are now worth 30% of the cost and may be claimed every year rather than only once. These credits are available for a much larger variety of projects, such as home energy audits, electrical, insulation, ventilation, and even your doors and windows! The programs are designed 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 particularly targeted toward heat pump technology, which transfers heat instead of producing it by burning fuel. To encourage more people to change to this energy-efficient comfort system, these rebates are substantially higher versus incentives for AC systems and furnaces.
If your household’s income is below 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 median income can take care of 50% of equipment and installation costs.