A dependable HVAC system is vital for a comfortable and energy-efficient home, but it’s also a significant investment. Every homeowner deserves the most effective comfort solutions possible, which is why HVAC rebates are so worthwhile. They can help guarantee 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 offering rebates in 2023 to help everyone procure a new, high-efficiency HVAC system.
Rebates for High-Efficiency Furnaces
Many manufacturers of high-efficiency furnaces offer rebates toward buying a new system. These furnaces feature energy-efficient components like variable-speed blower motors, which let the thermostat optimize how much heating is produced. It’s a great way to reduce energy use overall. Local utilities also provide furnace rebates because less energy use means less strain on the local energy grid.
The government’s ENERGY STAR® program is also helpful for acquiring a furnace rebate. You can submit your ZIP Code to see which rebates you could be qualified for. Equipment displaying the ENERGY STAR® rating means it fulfills 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 efficient cooling from a leading brand like Lennox. Just talk to your local utility companies to learn which makes and models are entitled. Additionally, you can often bundle federal and local rebates for even greater savings. Don’t hesitate to see what all you can find, because it can easily add up to 10% of a new, high-efficiency AC system
Potential Rebates for Smart Thermostats
A smart thermostat is an incredibly valuable upgrade to your home comfort system. With intelligent programming, you can optimize the daily schedule. Utility companies can benefit from this kind of efficiency, and so most offer rebate programs for new smart thermostats. After some time, these rebates virtually enable you to get a free smart thermostat!
Local utility companies also offer programs where they provide 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 show up. When participating in this program, your thermostat can automatically be changed by a few degrees.
Other Ways to Save: Tax Credits for Energy-Efficient Equipment and Home Improvement Projects
A little different compared to rebates, tax credits are also promoted for the purchase and installation of energy-efficient HVAC systems. For example, the Inflation Reduction Act restarted 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 each year instead of only once. These credits are eligible for a much wider variety of projects, such as home energy audits, electrical, insulation, ventilation, and even your doors and windows! The programs are fashioned to share 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 referred to as the High-Efficiency Electric Homes and Rebates Act, or HEEHRA. This incentive is specially geared toward heat pump technology, which transfers heat instead of creating it by burning fuel. To encourage more people to convert to this energy-efficient comfort system, these rebates are substantially higher than incentives for AC systems and furnaces.
If a household’s income is lower than 80% of the local median, you are able to use the rebates to cover 100% of the costs of a new heat pump. Households making 80-150% of the average income can pay for 50% of equipment and installation costs.