A dependable HVAC system is vital for a comfortable and energy-efficient home, but it’s also a big investment. Every homeowner deserves the most effective comfort solutions available, 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 climbing next year, so now’s an ideal time to compare your options. Different companies, organizations and even government entities are extending rebates in 2023 to help everyone acquire a new, high-efficiency HVAC system.
Rebates for High-Efficiency Furnaces
Lots of manufacturers of high-efficiency furnaces offer rebates for a new system. These furnaces incorporate energy-efficient components such as variable-speed blower motors, which allow the thermostat to optimize how much heating is produced. It’s an easy way to lower energy use overall. Local utilities also share furnace rebates since 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 type in your ZIP Code to see which rebates you could be approved for. Equipment with the ENERGY STAR® rating means it satisfies your region’s standards for energy-efficient comfort.
Air Conditioner Rebates
Plenty of 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 like Lennox. Just check with your local utility companies to learn which makes and models are suitable. Additionally, you can often combine federal and local rebates for even more 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
Available Rebates for Smart Thermostats
A smart thermostat is an incredibly valuable addition to your home comfort system. With intelligent programming, you can enhance the daily schedule. Utility companies can benefit from 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 create programs where they exchange lower rates for the ability to adjust your thermostat during peak energy use. This helps reduce strain on the grid, namely when heat waves or cold fronts arrive. When participating in this program, your thermostat will automatically be corrected by a few degrees.
Additional Ways to Save: 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 systems. For example, the Inflation Reduction Act restarted 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 every year as opposed to only once. These credits are available for a much wider variety of projects, such as 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 referred to as the High-Efficiency Electric Homes and Rebates Act, or HEEHRA. This incentive is specially aimed toward heat pump technology, which transfers heat instead of generating it by burning fuel. To motivate more people to convert to this energy-efficient comfort system, these rebates are significantly higher versus incentives for AC systems and furnaces.
If a 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 meeting 80-150% of the average income can pay for 50% of equipment and installation costs.