A dependable HVAC system is essential for a comfortable and energy-efficient home, but it’s also a major investment. Every homeowner deserves the most effective comfort solutions possible, which is why HVAC rebates are so important. They can help ensure high-efficiency furnaces, air conditioners and other equipment is more budget friendly.
HVAC efficiency standards are climbing next year, so now’s an excellent time to check out your options. A variety of 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
Lots of manufacturers of high-efficiency furnaces extend rebates toward the cost of a new system. These furnaces feature energy-efficient components such as variable-speed blower motors, which allow the thermostat to fine-tune how much heating is produced. It’s an easy way to decrease energy use overall. Local utilities also share furnace rebates as less energy use translates to less strain on the local energy grid.
The government’s ENERGY STAR® program is also helpful for acquiring a furnace rebate. You can submit your ZIP Code to learn which rebates you may be qualified for. Equipment with the ENERGY STAR® rating means it fulfills your region’s standards for energy-efficient operation.
Earning a Rebate for a High Efficiency Air Conditioner
Many of the same rebates for high-efficiency furnaces are also applicable to air conditioners. You can save hundreds on new installation for efficient cooling from a top brand like Lennox. Just talk to your local utility companies to learn which makes and models are eligible. What’s more, you can easily 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 cooling system
Potential Rebates for Smart Thermostats
A smart thermostat is an especially valuable addition to your home comfort system. With intelligent programming, you can optimize the daily schedule. Utility companies highly value this degree of efficiency, and so most offer rebate programs for new smart thermostats. In time, these rebates effectively permit you to get a free smart thermostat!
These utility companies also create programs where they provide reduced rates for the ability to access your thermostat during peak energy use. This helps minimize strain on the grid, especially when heat waves or cold fronts come through. When enrolled in this program, your thermostat can automatically be corrected by a few degrees.
Additional Incentives: Tax Credits for Energy-Efficient Equipment and Home Improvement Projects
A little 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 provided 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 obtainable for a much larger variety of projects, including home energy audits, electrical, insulation, ventilation, and even your doors and windows! The programs are fashioned to share 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 geared toward heat pump technology, which transfers heat instead of generating it by igniting fuel. To persuade more people to transition 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 are able to use the rebates to cover 100% of the costs of a new heat pump. Households that meet 80-150% of the typical income can pay for 50% of equipment and installation costs.