A dependable HVAC system is crucial for a comfortable and energy-efficient home, but it’s also a big investment. Everyone deserves the most productive comfort solutions possible, which is why HVAC rebates are so worthwhile. They can help make sure high-efficiency furnaces, air conditioners and other equipment is more affordable.
HVAC efficiency standards are increasing next year, so now’s an ideal time to check out your options. Various companies, organizations and even government entities are promoting rebates in 2023 to help everyone secure a new, high-efficiency HVAC system.
Receive a Tax Rebate by Installing a High Efficiency Furnace
Numerous manufacturers of high-efficiency furnaces extend rebates toward buying a new system. These furnaces include energy-efficient components such as variable-speed blower motors, which allow the thermostat to fine-tune how much heating is produced. It’s an easy way to lower energy use overall. Local utilities also share furnace rebates as less energy use results in less strain on the local energy grid.
The government’s ENERGY STAR® program is also helpful for securing a furnace rebate. You can submit your ZIP Code to find out which rebates you may be qualified for. Equipment displaying the ENERGY STAR® rating means it meets your region’s standards for energy-efficient operation.
Earning a Rebate for a High Efficiency Air Conditioner
Plenty of of the same rebates for high-efficiency furnaces are also useful for air conditioners. You can save hundreds on new installation for efficient cooling from a top brand like Lennox. Just talk to your local utility companies to learn which makes and models are suitable. In addition, 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 quickly add up to 10% of a new, high-efficiency air conditioner
Potential Rebates for Smart Thermostats
A smart thermostat is an incredibly valuable addition to your home comfort system. With intelligent programming, you can fine-tune the daily schedule. Utility companies can benefit from this kind of efficiency, and so most provide rebate programs for new smart thermostats. In time, these rebates virtually allow you to get a free smart thermostat!
Local utility companies also provide programs where they swap lower rates for the capacity to adjust your thermostat during peak energy use. This helps minimize strain on the grid, namely when heat waves or cold fronts show up. When participating in this program, your thermostat can automatically be adjusted by a few degrees.
Additional Cost-Saving Options: High Efficiency Products and Home Improvement Credits
Somewhat different from rebates, tax credits are also available for the purchase and installation of energy-efficient HVAC systems. For example, the Inflation Reduction Act reactivated a program in 2021 that provided credits for up to 10% of the project’s cost. The new credits are now worth 30% of the cost and can be claimed each year rather than only once. These credits are available for a much greater variety of projects, such as 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 across the country.
New Legislation for Heat Pump Rebates
The recently passed Inflation Reduction Act incorporated separate legislation known as the High-Efficiency Electric Homes and Rebates Act, or HEEHRA. This incentive is particularly targeted toward heat pump technology, which transfers heat instead of producing it by burning fuel. To persuade more people to convert to this energy-efficient comfort system, these rebates are significantly higher than incentives for AC systems and furnaces.
If the household’s income is less than 80% of the local median, you could use the rebates to cover 100% of the costs of a new heat pump. Households that meet 80-150% of the median income can cover 50% of equipment and installation costs.
