A well-designed HVAC system is essential for a comfortable and energy-efficient home, but it’s also a significant investment. Every homeowner deserves the most effective comfort solutions achievable, which is why HVAC rebates are so important. They can help make sure high-efficiency furnaces, air conditioners and other equipment is more budget friendly.
HVAC efficiency standards are climbing next year, so now’s an ideal time to check out your options. Various companies, organizations and even government entities are promoting rebates in 2023 to help everyone acquire a new, high-efficiency HVAC system.
Rebates for High-Efficiency Furnaces
Many manufacturers of high-efficiency furnaces extend rebates for a new system. These furnaces feature energy-efficient components like variable-speed blower motors, which let the thermostat fine-tune how much heating is released. It’s a great way to reduce energy use overall. Local utilities also offer furnace rebates since less energy use means less strain on the local energy grid.
The government’s ENERGY STAR® program is also useful for securing a furnace rebate. You can submit your ZIP Code to find out which rebates you might be eligible for. Equipment displaying the ENERGY STAR® rating means it meets 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 efficient cooling from a top brand such as Lennox. Just talk to your local utility companies to learn which makes and models are suitable. What’s more, you can often bundle 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 especially valuable improvement to your home comfort system. With intelligent programming, you can enhance 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!
Your utility companies also provide programs where they exchange reduced rates for the capacity to adjust your thermostat during peak energy use. This helps reduce strain on the grid, especially when heat waves or cold fronts come through. When enrolled in this program, your thermostat may automatically be adjusted by a few degrees.
More Ways to Save: Tax Credits for Energy-Efficient Equipment and Home Improvement Projects
Somewhat different than rebates, tax credits are also offered for the purchase and installation of energy-efficient HVAC systems. For example, the Inflation Reduction Act restarted a program in 2021 that provided credits for up to 10% of the project’s cost. The revised credits are now worth 30% of the cost and may be claimed each year as opposed to only once. These credits are available for a much wider variety of projects, including home energy audits, electrical, insulation, ventilation, and even your doors and windows! The programs are tailored to offer the most benefits for lower-income households, maximizing the improvements to HVAC efficiency across the country.
New Legislation for Heat Pump Rebates
The recently passed Inflation Reduction Act incorporated separate legislation called the High-Efficiency Electric Homes and Rebates Act, or HEEHRA. This incentive is specially aimed toward heat pump technology, which transfers heat instead of generating it by igniting fuel. To motivate more people to change to this energy-efficient comfort system, these rebates are substantially higher than incentives for AC systems and furnaces.
If your household’s income is lower 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 median income can pay for 50% of equipment and installation costs.