A dependable HVAC system is essential for a comfortable and energy-efficient home, but it’s also a big investment. Every homeowner deserves the most efficient comfort solutions achievable, which is why HVAC rebates are so important. 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 excellent time to compare your options. Various companies, organizations and even government entities are offering 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 toward the cost of a new system. These furnaces incorporate energy-efficient components like variable-speed blower motors, which allow the thermostat to refine how much heating is released. It’s a fantastic way to decrease energy use overall. Local utilities also provide furnace rebates since less energy use results in less strain on the local energy grid.
The government’s ENERGY STAR® program is also helpful for securing a furnace rebate. You can type in your ZIP Code to see which rebates you may be eligible for. Equipment with the ENERGY STAR® rating means it meets your region’s standards for energy-efficient operation.
Air Conditioner Rebates
Many 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 like Lennox. Just check with your local utility companies to find out which makes and models are entitled. In addition, you can usually combine 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 air conditioner.
Obtainable Rebates for Smart Thermostats
A smart thermostat is an incredibly valuable improvement to your home comfort system. With intelligent programming, you can enhance the daily schedule. Utility companies highly value this level of efficiency, and so most provide rebate programs for new smart thermostats. After some time, these rebates effectively enable you to get a free smart thermostat!
Your utility companies also provide programs where they provide lower rates for the capability 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 registered in this program, your thermostat can automatically be corrected by a few degrees.
More Ways to Save: Tax Credits for Energy-Efficient Equipment and Home Improvement Projects
Somewhat different than rebates, tax credits are also promoted 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 instead of 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 fashioned to provide 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 referred to as the High-Efficiency Electric Homes and Rebates Act, or HEEHRA. This incentive is particularly aimed toward heat pump technology, which transfers heat instead of creating it by combusting fuel. To persuade more people to convert to this energy-efficient comfort system, these rebates are substantially 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 cover 50% of equipment and installation costs.