A dependable HVAC system is vital for a comfortable and energy-efficient home, but it’s also a big investment. Every homeowner deserves the most productive comfort solutions available, which is why HVAC rebates are so important. 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 compare 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
Many manufacturers of high-efficiency furnaces provide rebates for a new system. These furnaces incorporate energy-efficient components like variable-speed blower motors, which allow the thermostat to optimize how much heating is generated. It’s an easy way to decrease energy use overall. Local utilities also provide furnace rebates because less energy use means less strain on the local energy grid.
The government’s ENERGY STAR® program is also useful for securing a furnace rebate. You can submit your ZIP Code to find out which rebates you could be approved for. Equipment displaying the ENERGY STAR® rating means it meets your region’s standards for energy-efficient performance.
Air Conditioner Rebates
Many of the same rebates for high-efficiency furnaces are also useful for air conditioners. You can save hundreds on new installation for efficient cooling from a top brand such as Lennox. Just consult your local utility companies to find out which makes and models are suitable. Additionally, you can usually join federal and local rebates for even more savings. Don’t hesitate to see what all you can find, because it can easily add up to 10% of a new, high-efficiency AC system.
Available Rebates for Smart Thermostats
A smart thermostat is an especially valuable improvement to your home comfort system. With intelligent programming, you can enhance the daily schedule. Utility companies can benefit from this level of efficiency, and so most extend rebate programs for new smart thermostats. After some time, these rebates essentially permit you to get a free smart thermostat!
Local utility companies also provide programs where they provide lower rates for the capacity to access your thermostat during peak energy use. This helps avoid strain on the grid, namely when heat waves or cold fronts come through. When enrolled in this program, your thermostat will automatically be adjusted by a few degrees.
Additional 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 restarted a program in 2021 that supplied credits for up to 10% of the project’s cost. The updated credits are now worth 30% of the cost and can be claimed each year rather than only once. These credits are obtainable for a much greater variety of projects, including home energy audits, electrical, insulation, ventilation, and even your doors and windows! The programs are fashioned to offer 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 included separate legislation referred to as the High-Efficiency Electric Homes and Rebates Act, or HEEHRA. This incentive is specially geared toward heat pump technology, which transfers heat instead of generating it by igniting fuel. To motivate more people to change to this energy-efficient comfort system, these rebates are substantially higher versus incentives for AC systems and furnaces.
If the 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 that meet 80-150% of the median income can take care of 50% of equipment and installation costs.