A quality HVAC system is essential for a comfortable and energy-efficient home, but it’s also a significant investment. Every homeowner deserves the most efficient comfort solutions possible, which is why HVAC rebates are so worthwhile. They can help ensure high-efficiency furnaces, air conditioners and other equipment is more affordable.
HVAC efficiency standards are going up 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
Numerous manufacturers of high-efficiency furnaces offer rebates toward buying a new system. These furnaces incorporate energy-efficient components such as variable-speed blower motors, which enable the thermostat to refine how much heating is produced. It’s an easy way to lower energy use overall. Local utilities also provide furnace rebates since less energy use means less strain on the local energy grid.
The government’s ENERGY STAR® program is also useful for obtaining a furnace rebate. You can enter your ZIP Code to find out which rebates you could be eligible for. Equipment featuring the ENERGY STAR® rating means it fulfills your region’s standards for energy-efficient performance.
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 equipment from a top brand like Lennox. Just check with your local utility companies to verify which makes and models are entitled. Additionally, you can often bundle federal and local rebates for even greater savings. Don’t hesitate to see what all you can find, because it can quickly add up to 10% of a new, high-efficiency air conditioner
Potential Rebates for Smart Thermostats
A smart thermostat is an especially valuable addition to your home comfort system. With intelligent programming, you can fine-tune the daily schedule. Utility companies highly value this kind of efficiency, and so most provide rebate programs for new smart thermostats. After some time, these rebates virtually enable you to get a free smart thermostat!
Local utility companies also offer programs where they provide reduced rates for the ability 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 may automatically be adjusted by a few degrees.
Other Cost-Saving Options: Tax Credits for Energy-Efficient Equipment and Home Improvement Projects
A little different than rebates, tax credits are also available for the purchase and installation of energy-efficient HVAC equipment. For example, the Inflation Reduction Act reactivated a program in 2021 that supplied credits for up to 10% of the project’s cost. The revised credits are now worth 30% of the cost and may be claimed every year rather than only once. These credits are obtainable for a much larger variety of projects, including home energy audits, electrical, insulation, ventilation, and even your doors and windows! The programs are designed to offer 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 known as the High-Efficiency Electric Homes and Rebates Act, or HEEHRA. This incentive is especially geared toward heat pump technology, which transfers heat instead of producing it by igniting fuel. To persuade more people to convert to this energy-efficient comfort system, these rebates are significantly higher than incentives for AC systems and furnaces.
If your household’s income is below 80% of the local median, you could 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.