A dependable 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 achievable, 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 climbing next year, so now’s an ideal time to explore your options. Different companies, organizations and even government entities are offering rebates in 2023 to help everyone acquire 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 include energy-efficient components like variable-speed blower motors, which let the thermostat optimize how much heating is released. It’s an easy way to lower energy use overall. Local utilities also offer furnace rebates since less energy use translates to less strain on the local energy grid.
The government’s ENERGY STAR® program is also recommended for acquiring a furnace rebate. You can type in your ZIP Code to see which rebates you might be approved for. Equipment displaying the ENERGY STAR® rating means it meets your region’s standards for energy-efficient operation.
Air Conditioner Rebates
Many of the same rebates for high-efficiency furnaces are also useful 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 verify which makes and models are entitled. What’s more, you can often combine 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.
Obtainable Rebates for Smart Thermostats
A smart thermostat is an especially valuable improvement to your home comfort system. With intelligent programming, you can optimize the daily schedule. Utility companies appreciate this level of efficiency, and so most extend rebate programs for new smart thermostats. In time, these rebates essentially enable you to get a free smart thermostat!
Local utility companies also provide programs where they swap discounted rates for the capability 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 participating in this program, your thermostat can automatically be changed by a few degrees.
More Ways to Save: Tax Credits for Energy-Efficient Equipment and Home Improvement Projects
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 reactivated a program in 2021 that offered 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, 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 nationwide.
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 generating it by combusting fuel. To persuade more people to change to this energy-efficient comfort system, these rebates are considerably higher than incentives for AC systems and furnaces.
If a household’s income is lower than 80% of the local median, you could use the rebates to cover 100% of the costs of a new heat pump. Households meeting 80-150% of the median income can cover 50% of equipment and installation costs.