A well-designed HVAC system is crucial for a comfortable and energy-efficient home, but it’s also a big investment. Every homeowner deserves the most productive 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 affordable.
HVAC efficiency standards are increasing next year, so now’s an ideal time to compare your options. Different companies, organizations and even government entities are extending rebates in 2023 to help everyone procure a new, high-efficiency HVAC system.
Furnace Rebates Require High Efficiency Models
Numerous manufacturers of high-efficiency furnaces provide rebates for a new system. These furnaces incorporate energy-efficient components such as variable-speed blower motors, which enable the thermostat to fine-tune how much heating is produced. It’s an easy way to decrease energy use overall. Local utilities also offer 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 see which rebates you might be qualified for. Equipment with the ENERGY STAR® rating means it fulfills your region’s standards for energy-efficient comfort.
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 a system from a top brand like Lennox. Just talk to your local utility companies to find out which makes and models are suitable. Additionally, you can easily combine federal and local rebates for even more 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
Available Rebates for Smart Home Accessories Like Smart Thermostats
A smart thermostat is an especially valuable upgrade to your home comfort system. With intelligent programming, you can enhance the daily schedule. Utility companies highly value this level of efficiency, and so most provide rebate programs for new smart thermostats. Over time, these rebates virtually allow you to get a free smart thermostat!
Local utility companies also create programs where they provide lower rates for the capability to control your thermostat during peak energy use. This helps minimize strain on the grid, particularly when heat waves or cold fronts arrive. When enrolled in this program, your thermostat may automatically be changed by a few degrees.
Additional Incentives: Tax Credits for Energy-Efficient Equipment and Home Improvement Projects
Slightly different than rebates, tax credits are also offered 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 new credits are now worth 30% of the cost and can be claimed each year rather than only once. These credits are eligible for a much greater variety of projects, like home energy audits, electrical, insulation, ventilation, and even your doors and windows! The programs are fashioned to provide the most benefits for lower-income households, maximizing the improvements to HVAC efficiency nationwide.
New Legislation for Heat Pump Rebates
The recently passed Inflation Reduction Act included separate legislation referred to as the High-Efficiency Electric Homes and Rebates Act, or HEEHRA. This incentive is specially aimed toward heat pump technology, which transfers heat instead of creating it by combusting fuel. To persuade more people to change to this energy-efficient comfort system, these rebates are considerably higher compared to incentives for AC systems 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 take care of 50% of equipment and installation costs.