A quality HVAC system is vital for a comfortable and energy-efficient home, but it’s also a major investment. Every homeowner deserves the most efficient comfort solutions achievable, 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 going up next year, so now’s a great time to check out your options. Various 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 extend rebates toward the cost of a new system. These furnaces feature energy-efficient components such as variable-speed blower motors, which let the thermostat fine-tune how much heating is released. It’s a fantastic way to decrease energy use overall. Local utilities also offer furnace rebates because less energy use results in less strain on the local energy grid.
The government’s ENERGY STAR® program is also helpful for acquiring a furnace rebate. You can type in your ZIP Code to find out which rebates you may be qualified for. Equipment featuring the ENERGY STAR® rating means it fulfills your region’s standards for energy-efficient operation.
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 equipment from a top brand like Lennox. Just talk to your local utility companies to verify which makes and models are suitable. Additionally, you can usually join federal and local rebates for even more 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
Available Rebates for Smart Home Accessories Like Smart Thermostats
A smart thermostat is a particularly valuable addition 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 extend rebate programs for new smart thermostats. Over time, these rebates essentially enable you to get a free smart thermostat!
Local utility companies also create programs where they swap lower 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 come through. When registered in this program, your thermostat can automatically be adjusted by a few degrees.
More Ways to Save: Tax Credits for Energy-Efficient Equipment and Home Improvement Projects
Somewhat different from rebates, tax credits are also available for the purchase and installation of energy-efficient HVAC equipment. For example, the Inflation Reduction Act restarted a program in 2021 that provided credits for up to 10% of the project’s cost. The revised credits are now worth 30% of the cost and can be claimed every year as opposed to only once. These credits are available for a much greater variety of projects, including home energy audits, electrical, insulation, ventilation, and even your doors and windows! The programs are designed to share 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 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 encourage more people to transition to this energy-efficient comfort system, these rebates are considerably higher versus incentives for AC systems and furnaces.
If your household’s income is below 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 median income can take care of 50% of equipment and installation costs.
