A dependable HVAC system is vital for a comfortable and energy-efficient home, but it’s also a significant investment. Every homeowner deserves the most efficient comfort solutions achievable, which is why HVAC rebates are so important. They can help ensure 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. Different companies, organizations and even government entities are offering rebates in 2023 to help everyone procure a new, high-efficiency HVAC system.
Rebates for High-Efficiency Furnaces
Numerous manufacturers of high-efficiency furnaces offer rebates for a new system. These furnaces include energy-efficient components like variable-speed blower motors, which allow the thermostat to optimize how much heating is produced. It’s a great way to lower energy use overall. Local utilities also provide furnace rebates as less energy use means less strain on the local energy grid.
The government’s ENERGY STAR® program is also recommended for securing a furnace rebate. You can enter your ZIP Code to learn which rebates you could be approved for. Equipment with the ENERGY STAR® rating means it meets your region’s standards for energy-efficient performance.
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 leading brand such as Lennox. Just talk to your local utility companies to find out which makes and models are eligible. In addition, you can usually join federal and local rebates for even more savings. Don’t hesitate to find out what's all available, because it can quickly add up to 10% of a new, high-efficiency AC system.
Obtainable Rebates for Smart Thermostats
A smart thermostat is an incredibly valuable upgrade to your home comfort system. With intelligent programming, you can optimize the daily schedule. Utility companies can benefit from this kind of efficiency, and so most provide rebate programs for new smart thermostats. After some time, these rebates essentially enable you to get a free smart thermostat!
Local utility companies also offer programs where they swap lower rates for the ability to adjust your thermostat during peak energy use. This helps reduce strain on the grid, namely when heat waves or cold fronts show up. When participating in this program, your thermostat can automatically be changed by a few degrees.
More Ways to Save: Tax Credits for Energy-Efficient Equipment and Home Improvement Projects
Slightly different than rebates, tax credits are also offered for the purchase and installation of energy-efficient HVAC equipment. For example, the Inflation Reduction Act restarted a program in 2021 that supplied credits for up to 10% of the project’s cost. The updated credits are now worth 30% of the cost and can be claimed every year as opposed to 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 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 specially targeted 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 considerably higher than incentives for AC systems and furnaces.
If your household’s income is below 80% of the local median, you can 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.