A well-designed HVAC system is essential for a comfortable and energy-efficient home, but it’s also a big investment. Every homeowner deserves the most effective comfort solutions achievable, which is why HVAC rebates are so worthwhile. 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 an ideal time to check out your options. Different companies, organizations and even government entities are offering rebates in 2023 to help everyone procure a new, high-efficiency HVAC system.
Furnace Rebates Require High Efficiency Models
Many manufacturers of high-efficiency furnaces offer rebates toward buying a new system. These furnaces feature energy-efficient components such as variable-speed blower motors, which let the thermostat fine-tune how much heating is produced. It’s an easy way to reduce energy use overall. Local utilities also offer furnace rebates as less energy use means less strain on the local energy grid.
The government’s ENERGY STAR® program is also useful for acquiring a furnace rebate. You can enter your ZIP Code to learn which rebates you could be qualified for. Equipment with the ENERGY STAR® rating means it fulfills your region’s standards for energy-efficient performance.
Air Conditioner Rebates
Many 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 leading brand such as Lennox. Just check with your local utility companies to find out which makes and models are entitled. What’s more, you can usually join 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 AC system
Available Rebates for Smart Thermostats
A smart thermostat is a particularly valuable upgrade to your home comfort system. With intelligent programming, you can optimize the daily schedule. Utility companies can benefit from this degree of efficiency, and so most extend rebate programs for new smart thermostats. In time, these rebates effectively permit you to get a free smart thermostat!
These utility companies also offer programs where they provide reduced rates for the capability to access your thermostat during peak energy use. This helps minimize strain on the grid, namely when heat waves or cold fronts show up. When registered in this program, your thermostat will automatically be corrected by a few degrees.
Additional Cost-Saving Options: High Efficiency Products and Home Improvement Credits
A little different compared to 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 provided credits for up to 10% of the project’s cost. The updated 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, such as home energy audits, electrical, insulation, ventilation, and even your doors and windows! The programs are fashioned 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 incorporated separate legislation known as the High-Efficiency Electric Homes and Rebates Act, or HEEHRA. This incentive is especially aimed toward heat pump technology, which transfers heat instead of generating it by igniting fuel. To motivate more people to convert to this energy-efficient comfort system, these rebates are substantially higher compared to 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 typical income can pay for 50% of equipment and installation costs.