A dependable HVAC system is crucial for a comfortable and energy-efficient home, but it’s also a major investment. You deserve the most productive comfort solutions achievable, which is why HVAC rebates are so beneficial. They can help make sure high-efficiency furnaces, air conditioners and other equipment is more affordable.
HVAC efficiency standards are going up next year, so now’s a great time to compare your options. Different companies, organizations and even government entities are promoting rebates in 2023 to help everyone secure a new, high-efficiency HVAC system.
Furnace Rebates Require High Efficiency Models
Numerous manufacturers of high-efficiency furnaces provide rebates toward buying a new system. These furnaces include energy-efficient components such as variable-speed blower motors, which allow the thermostat to refine how much heating is released. It’s an easy way to reduce energy use overall. Local utilities also provide furnace rebates because less energy use results in less strain on the local energy grid.
The government’s ENERGY STAR® program is also recommended for acquiring a furnace rebate. You can submit your ZIP Code to learn which rebates you could be qualified for. Equipment featuring the ENERGY STAR® rating means it satisfies your region’s standards for energy-efficient comfort.
Earning a Rebate for a High Efficiency Air Conditioner
Plenty 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 like Lennox. Just consult your local utility companies to find out which makes and models are eligible. In addition, you can usually combine federal and local rebates for even higher savings. Don’t hesitate to find out what's all available, because it can quickly add up to 10% of a new, high-efficiency cooling system
Potential Rebates for Smart Home Accessories Like Smart Thermostats
A smart thermostat is an incredibly valuable improvement to your home comfort system. With intelligent programming, you can optimize the daily schedule. Utility companies appreciate this kind of efficiency, and so most offer rebate programs for new smart thermostats. In time, these rebates essentially permit you to get a free smart thermostat!
These utility companies also offer programs where they provide reduced rates for the capacity to control your thermostat during peak energy use. This helps avoid strain on the grid, namely when heat waves or cold fronts arrive. When registered in this program, your thermostat may automatically be adjusted by a few degrees.
Other Cost-Saving Options: High Efficiency Products and Home Improvement Credits
Somewhat different from rebates, tax credits are also promoted for the purchase and installation of energy-efficient HVAC equipment. For example, the Inflation Reduction Act reactivated a program in 2021 that offered credits for up to 10% of the project’s cost. The new credits are now worth 30% of the cost and can be claimed every year as opposed to only once. These credits are obtainable for a much greater variety of projects, including home energy audits, electrical, insulation, ventilation, and even your doors and windows! The programs are designed to share 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 particularly geared toward heat pump technology, which transfers heat instead of creating it by igniting fuel. To motivate more people to convert to this energy-efficient comfort system, these rebates are significantly higher compared to incentives for AC systems and furnaces.
If the 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 making 80-150% of the average income can pay for 50% of equipment and installation costs.