A well-designed HVAC system is vital for a comfortable and energy-efficient home, but it’s also a major investment. You deserve the most effective comfort solutions available, which is why HVAC rebates are so worthwhile. They can help guarantee 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 explore your options. Various companies, organizations and even government entities are promoting 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 offer rebates toward the cost of 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 generated. It’s an easy way to decrease energy use overall. Local utilities also provide 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 find out which rebates you could be qualified for. Equipment displaying the ENERGY STAR® rating means it meets your region’s standards for energy-efficient comfort.
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 equipment from a top brand such as Lennox. Just check with your local utility companies to verify which makes and models are entitled. In addition, you can often combine 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 air conditioner.
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 highly value this degree of efficiency, and so most offer rebate programs for new smart thermostats. Over time, these rebates essentially allow you to get a free smart thermostat!
Local utility companies also create programs where they swap lower rates for the capacity to access 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 will automatically be adjusted by a few degrees.
More Ways to Save: Tax Credits for Energy-Efficient Equipment and Home Improvement Projects
A little different compared to rebates, tax credits are also available 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 eligible for a much greater variety of projects, such as home energy audits, electrical, insulation, ventilation, and even your doors and windows! The programs are tailored to provide 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 contained separate legislation referred to as the High-Efficiency Electric Homes and Rebates Act, or HEEHRA. This incentive is especially aimed toward heat pump technology, which transfers heat instead of producing it by combusting fuel. To persuade more people to transition to this energy-efficient comfort system, these rebates are substantially higher versus incentives for AC units 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 meeting 80-150% of the typical income can take care of 50% of equipment and installation costs.