A well-designed HVAC system is essential for a comfortable and energy-efficient home, but it’s also a significant investment. You deserve the most efficient comfort solutions possible, which is why HVAC rebates are so important. They can help guarantee high-efficiency furnaces, air conditioners and other equipment is more budget friendly.
HVAC efficiency standards are climbing next year, so now’s a great time to compare your options. Different companies, organizations and even government entities are extending rebates in 2023 to help everyone secure a new, high-efficiency HVAC system.
Rebates for High-Efficiency Furnaces
Many manufacturers of high-efficiency furnaces offer rebates toward buying a new system. These furnaces incorporate energy-efficient components such as variable-speed blower motors, which allow the thermostat to fine-tune how much heating is produced. It’s a great way to decrease energy use overall. Local utilities also share furnace rebates as less energy use means less strain on the local energy grid.
The government’s ENERGY STAR® program is also helpful for obtaining a furnace rebate. You can type in your ZIP Code to find out which rebates you might be qualified for. Equipment displaying the ENERGY STAR® rating means it satisfies your region’s standards for energy-efficient operation.
Rebates for Air Conditioning Systems
Plenty of of the same rebates for high-efficiency furnaces are also suitable for air conditioners. You can save hundreds on new installation for efficient cooling from a leading brand like Lennox. Just consult your local utility companies to learn which makes and models are eligible. In addition, 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 quickly add up to 10% of a new, high-efficiency AC system
Potential Rebates for Smart Home Accessories Like Smart Thermostats
A smart thermostat is a particularly 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 effectively permit you to get a free smart thermostat!
Local utility companies also create programs where they provide lower rates for the capability to control your thermostat during peak energy use. This helps avoid strain on the grid, especially when heat waves or cold fronts arrive. When participating in this program, your thermostat may automatically be changed by a few degrees.
More Ways to Save: High Efficiency Products and Home Improvement Credits
Somewhat different from rebates, tax credits are also promoted for the purchase and installation of energy-efficient HVAC equipment. 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 may be claimed each year rather than only once. These credits are obtainable for a much larger variety of projects, such as 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 particularly targeted toward heat pump technology, which transfers heat instead of generating it by igniting fuel. To persuade more people to convert to this energy-efficient comfort system, these rebates are significantly higher compared to incentives for AC units and furnaces.
If a 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 median income can cover 50% of equipment and installation costs.