A dependable HVAC system is vital 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 worthwhile. 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 promoting rebates in 2023 to help everyone procure a new, high-efficiency HVAC system.
Rebates for High-Efficiency Furnaces
Lots of 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 fine-tune how much heating is produced. It’s an easy way to lower energy use overall. Local utilities also provide furnace rebates because 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 submit your ZIP Code to see which rebates you may be eligible for. Equipment displaying the ENERGY STAR® rating means it fulfills your region’s standards for energy-efficient operation.
Air Conditioner Rebates
Many of the same rebates for high-efficiency furnaces are also applicable to air conditioners. You can save hundreds on new installation for a system from a top brand such as Lennox. Just check with your local utility companies to verify which makes and models are suitable. In addition, you can usually bundle federal and local rebates for even higher 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 incredibly valuable improvement to your home comfort system. With intelligent programming, you can fine-tune the daily schedule. Utility companies can benefit from this level of efficiency, and so most extend rebate programs for new smart thermostats. Over time, these rebates effectively permit you to get a free smart thermostat!
Local utility companies also offer programs where they swap 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 come through. When participating in this program, your thermostat may automatically be corrected by a few degrees.
Additional Ways to Save: Tax Credits for Energy-Efficient Equipment and Home Improvement Projects
Slightly different compared to rebates, tax credits are also offered 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 instead of only once. These credits are available 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 all over the country.
New Legislation for Heat Pump Rebates
The recently passed Inflation Reduction Act incorporated 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 creating 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 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 meeting 80-150% of the typical income can cover 50% of equipment and installation costs.