A quality HVAC system is essential for a comfortable and energy-efficient home, but it’s also a major investment. Every homeowner deserves the most productive 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 climbing next year, so now’s an excellent time to compare your options. Various companies, organizations and even government entities are extending rebates in 2023 to help everyone acquire a new, high-efficiency HVAC system.
Furnace Rebates Require High Efficiency Models
Lots of manufacturers of high-efficiency furnaces offer rebates toward buying a new system. These furnaces include energy-efficient components such as variable-speed blower motors, which enable the thermostat to refine how much heating is released. It’s a fantastic way to lower energy use overall. Local utilities also offer furnace rebates because less energy use means less strain on the local energy grid.
The government’s ENERGY STAR® program is also helpful for securing a furnace rebate. You can enter your ZIP Code to see which rebates you might be qualified for. Equipment displaying the ENERGY STAR® rating means it fulfills your region’s standards for energy-efficient comfort.
Earning a Rebate for a High Efficiency Air Conditioner
Plenty of of the same rebates for high-efficiency furnaces are also applicable to air conditioners. You can save hundreds on new installation for equipment from a leading brand like Lennox. Just check with your local utility companies to learn which makes and models are eligible. Additionally, you can usually join 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 AC system
Available 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 fine-tune the daily schedule. Utility companies can benefit from this kind of efficiency, and so most provide rebate programs for new smart thermostats. After some time, these rebates essentially permit you to get a free smart thermostat!
These utility companies also provide programs where they exchange lower rates for the capability to adjust your thermostat during peak energy use. This helps avoid strain on the grid, namely when heat waves or cold fronts show up. 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
Somewhat 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 revised credits are now worth 30% of the cost and can be claimed each year rather than only once. These credits are available for a much wider variety of projects, including home energy audits, electrical, insulation, ventilation, and even your doors and windows! The programs are designed to share 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 incorporated separate legislation known as the High-Efficiency Electric Homes and Rebates Act, or HEEHRA. This incentive is especially aimed toward heat pump technology, which transfers heat instead of creating it by igniting fuel. To encourage more people to change to this energy-efficient comfort system, these rebates are substantially higher compared to incentives for AC systems and furnaces.
If a household’s income is lower than 80% of the local median, you could use the rebates to cover 100% of the costs of a new heat pump. Households making 80-150% of the median income can cover 50% of equipment and installation costs.