A dependable HVAC system is crucial for a comfortable and energy-efficient home, but it’s also a big investment. Everyone deserves the most productive comfort solutions possible, which is why HVAC rebates are so worthwhile. They can help make sure high-efficiency furnaces, air conditioners and other equipment is more budget friendly.
HVAC efficiency standards are going up next year, so now’s an excellent time to compare your options. A variety of companies, organizations and even government entities are offering 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 include energy-efficient components such as variable-speed blower motors, which enable the thermostat to fine-tune how much heating is released. It’s a fantastic way to reduce 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 obtaining a furnace rebate. You can submit your ZIP Code to see which rebates you may be approved for. Equipment displaying the ENERGY STAR® rating means it satisfies your region’s standards for energy-efficient operation.
Air Conditioner Rebates
A lot of 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 leading brand such as Lennox. Just check with your local utility companies to verify which makes and models are entitled. Additionally, you can easily combine federal and local rebates for even greater savings. Don’t hesitate to find out what's all available, because it can easily add up to 10% of a new, high-efficiency air conditioner.
Available Rebates for Smart Thermostats
A smart thermostat is an especially valuable upgrade 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 provide rebate programs for new smart thermostats. In time, these rebates effectively allow you to get a free smart thermostat!
These utility companies also provide programs where they exchange lower rates for the capability to access your thermostat during peak energy use. This helps reduce strain on the grid, particularly 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
Slightly different from 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 provided credits for up to 10% of the project’s cost. The new credits are now worth 30% of the cost and may be claimed each year rather than only once. These credits are eligible for a much wider 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 incorporated 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 producing it by igniting fuel. To encourage more people to transition to this energy-efficient comfort system, these rebates are considerably 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 making 80-150% of the typical income can take care of 50% of equipment and installation costs.