A dependable HVAC system is vital for a comfortable and energy-efficient home, but it’s also a major investment. Every homeowner deserves the most effective comfort solutions possible, which is why HVAC rebates are so important. They can help make sure high-efficiency furnaces, air conditioners and other equipment is more affordable.
HVAC efficiency standards are climbing next year, so now’s an excellent time to check out your options. Various companies, organizations and even government entities are promoting rebates in 2023 to help everyone procure a new, high-efficiency HVAC system.
Rebates for High-Efficiency Furnaces
Numerous manufacturers of high-efficiency furnaces extend rebates toward the cost of a new system. These furnaces include energy-efficient components like variable-speed blower motors, which allow the thermostat to refine how much heating is produced. It’s a fantastic way to lower energy use overall. Local utilities also provide furnace rebates as less energy use means less strain on the local energy grid.
The government’s ENERGY STAR® program is also recommended for acquiring a furnace rebate. You can enter your ZIP Code to learn which rebates you may be approved for. Equipment with the ENERGY STAR® rating means it satisfies your region’s standards for energy-efficient performance.
Air Conditioner Rebates
A lot of of the same rebates for high-efficiency furnaces are also applicable to air conditioners. You can save hundreds on new installation for a system from a top brand like Lennox. Just check with your local utility companies to find out which makes and models are suitable. Additionally, you can easily join federal and local rebates for even higher savings. Don’t hesitate to see what all you can find, because it can quickly add up to 10% of a new, high-efficiency cooling system.
Obtainable Rebates for Smart Thermostats
A smart thermostat is an especially valuable upgrade to your home comfort system. With intelligent programming, you can fine-tune the daily schedule. Utility companies appreciate this kind of efficiency, and so most provide rebate programs for new smart thermostats. In time, these rebates effectively permit you to get a free smart thermostat!
These utility companies also provide programs where they swap discounted rates for the capability to access your thermostat during peak energy use. This helps reduce strain on the grid, particularly when heat waves or cold fronts arrive. When registered in this program, your thermostat will automatically be adjusted by a few degrees.
Other Ways to Save: Tax Credits for Energy-Efficient Equipment and Home Improvement Projects
Slightly different from rebates, tax credits are also offered for the purchase and installation of energy-efficient HVAC systems. For example, the Inflation Reduction Act reactivated a program in 2021 that supplied 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 instead of only once. These credits are obtainable for a much larger variety of projects, including home energy audits, electrical, insulation, ventilation, and even your doors and windows! The programs are fashioned 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 contained separate legislation referred to as the High-Efficiency Electric Homes and Rebates Act, or HEEHRA. This incentive is particularly aimed toward heat pump technology, which transfers heat instead of producing it by combusting fuel. To motivate more people to change to this energy-efficient comfort system, these rebates are considerably higher compared to incentives for AC units and furnaces.
If the 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 typical income can pay for 50% of equipment and installation costs.