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 achievable, which is why HVAC rebates are so beneficial. 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 check out your options. Different companies, organizations and even government entities are offering rebates in 2023 to help everyone secure a new, high-efficiency HVAC system.
Rebates for High-Efficiency Furnaces
Numerous manufacturers of high-efficiency furnaces offer rebates for 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 produced. It’s a fantastic way to decrease energy use overall. Local utilities also provide furnace rebates because less energy use translates to less strain on the local energy grid.
The government’s ENERGY STAR® program is also useful for acquiring a furnace rebate. You can enter 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 performance.
Rebates for Air Conditioning Systems
Plenty 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 leading brand like Lennox. Just check with your local utility companies to verify which makes and models are entitled. In addition, you can easily combine 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 AC system
Available Rebates for Smart Home Accessories Like Smart Thermostats
A smart thermostat is a particularly valuable upgrade to your home comfort system. With intelligent programming, you can optimize the daily schedule. Utility companies highly value this level of efficiency, and so most offer rebate programs for new smart thermostats. After some time, these rebates essentially enable you to get a free smart thermostat!
Local utility companies also provide programs where they swap discounted rates for the ability to access your thermostat during peak energy use. This helps reduce strain on the grid, namely when heat waves or cold fronts show up. When enrolled in this program, your thermostat may automatically be adjusted by a few degrees.
Other Cost-Saving Options: High Efficiency Products and Home Improvement Credits
Slightly different compared to rebates, tax credits are also offered 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 new credits are now worth 30% of the cost and may be claimed every year as opposed to only once. These credits are eligible for a much wider variety of projects, including home energy audits, electrical, insulation, ventilation, and even your doors and windows! The programs are tailored 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 geared 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 than incentives for AC units and furnaces.
If your household’s income is less 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 meeting 80-150% of the average income can cover 50% of equipment and installation costs.