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 possible, which is why HVAC rebates are so beneficial. 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 a great time to check out your options. A variety of companies, organizations and even government entities are offering rebates in 2023 to help everyone acquire a new, high-efficiency HVAC system.
Rebates for High-Efficiency Furnaces
Numerous manufacturers of high-efficiency furnaces provide rebates toward buying a new system. These furnaces feature energy-efficient components like variable-speed blower motors, which allow the thermostat to fine-tune how much heating is released. It’s an easy 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 recommended for securing a furnace rebate. You can submit your ZIP Code to see which rebates you might be approved for. Equipment displaying the ENERGY STAR® rating means it meets your region’s standards for energy-efficient performance.
Earning a Rebate for a High Efficiency Air Conditioner
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 efficient cooling from a top brand like Lennox. Just consult your local utility companies to verify which makes and models are eligible. What’s more, you can usually combine federal and local rebates for even greater 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
Available Rebates for Smart Home Accessories Like 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 appreciate this level of efficiency, and so most offer rebate programs for new smart thermostats. After some time, these rebates effectively enable you to get a free smart thermostat!
Local utility companies also offer programs where they provide reduced rates for the ability to control 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 can automatically be corrected by a few degrees.
Additional Incentives: Tax Credits for Energy-Efficient Equipment and Home Improvement Projects
Somewhat different from 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 new credits are now worth 30% of the cost and may be claimed every year rather than only once. These credits are available for a much wider variety of projects, such as home energy audits, electrical, insulation, ventilation, and even your doors and windows! The programs are designed 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 included separate legislation called 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 combusting fuel. To motivate 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 lower 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 pay for 50% of equipment and installation costs.