A well-designed 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 beneficial. They can help ensure 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 explore your options. Various 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 feature 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 share furnace rebates because 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 submit your ZIP Code to learn which rebates you might be approved for. Equipment displaying the ENERGY STAR® rating means it satisfies your region’s standards for energy-efficient comfort.
Air Conditioner Rebates
A lot of of the same rebates for high-efficiency furnaces are also suitable for air conditioners. You can save hundreds on new installation for a system from a leading brand such as Lennox. Just consult your local utility companies to learn which makes and models are suitable. What’s more, you can often join federal and local rebates for even greater savings. Don’t hesitate to learn what's out there, because it can easily 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 fine-tune the daily schedule. Utility companies can benefit from this degree of efficiency, and so most provide rebate programs for new smart thermostats. Over time, these rebates essentially allow you to get a free smart thermostat!
These utility companies also create programs where they exchange lower rates for the capability to adjust your thermostat during peak energy use. This helps reduce strain on the grid, particularly when heat waves or cold fronts show up. When enrolled in this program, your thermostat can automatically be changed by a few degrees.
Additional Ways to Save: Tax Credits for Energy-Efficient Equipment and Home Improvement Projects
A little different from 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 new credits are now worth 30% of the cost and may be claimed every year as opposed to only once. These credits are available for a much greater variety of projects, like home energy audits, electrical, insulation, ventilation, and even your doors and windows! The programs are fashioned to offer 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 creating it by burning fuel. To encourage more people to change to this energy-efficient comfort system, these rebates are significantly higher versus incentives for AC systems and furnaces.
If the household’s income is less than 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 average income can take care of 50% of equipment and installation costs.