A dependable HVAC system is essential for a comfortable and energy-efficient home, but it’s also a significant investment. You deserve the most effective comfort solutions available, which is why HVAC rebates are so worthwhile. They can help make sure high-efficiency furnaces, air conditioners and other equipment is more budget friendly.
HVAC efficiency standards are increasing next year, so now’s an ideal time to compare your options. A variety of 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
Many manufacturers of high-efficiency furnaces extend rebates toward the cost of a new system. These furnaces feature energy-efficient components such as variable-speed blower motors, which allow the thermostat to refine how much heating is produced. It’s a great way to decrease 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 type in your ZIP Code to find out which rebates you may be qualified for. Equipment with the ENERGY STAR® rating means it fulfills 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 check with your local utility companies to verify which makes and models are entitled. Additionally, you can usually join federal and local rebates for even greater savings. Don’t hesitate to find out what's all available, because it can easily add up to 10% of a new, high-efficiency air conditioner
Potential Rebates for Smart Thermostats
A smart thermostat is an incredibly valuable improvement to your home comfort system. With intelligent programming, you can enhance the daily schedule. Utility companies highly value this level of efficiency, and so most provide rebate programs for new smart thermostats. In time, these rebates essentially permit you to get a free smart thermostat!
These utility companies also create programs where they swap lower rates for the ability to access 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 can automatically be adjusted by a few degrees.
Other Cost-Saving Options: High Efficiency Products and Home Improvement Credits
Somewhat different compared to 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 can be claimed every year as opposed to only once. These credits are eligible for a much wider variety of projects, like 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 contained separate legislation referred to 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 creating it by burning fuel. To persuade more people to change to this energy-efficient comfort system, these rebates are significantly higher than incentives for AC systems and furnaces.
If your 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 median income can take care of 50% of equipment and installation costs.