A quality HVAC system is essential for a comfortable and energy-efficient home, but it’s also a big investment. Everyone deserves the most efficient comfort solutions available, which is why HVAC rebates are so worthwhile. They can help ensure high-efficiency furnaces, air conditioners and other equipment is more affordable.
HVAC efficiency standards are increasing next year, so now’s an excellent time to compare your options. Different companies, organizations and even government entities are extending rebates in 2023 to help everyone acquire a new, high-efficiency HVAC system.
Rebates for High-Efficiency Furnaces
Lots of manufacturers of high-efficiency furnaces extend rebates toward the cost of a new system. These furnaces incorporate energy-efficient components such as variable-speed blower motors, which enable the thermostat to refine how much heating is produced. It’s an easy way to reduce energy use overall. Local utilities also offer furnace rebates since less energy use means less strain on the local energy grid.
The government’s ENERGY STAR® program is also useful for securing a furnace rebate. You can type in your ZIP Code to learn which rebates you could be eligible for. Equipment displaying the ENERGY STAR® rating means it fulfills your region’s standards for energy-efficient comfort.
Air Conditioner Rebates
Many of the same rebates for high-efficiency furnaces are also useful for air conditioners. You can save hundreds on new installation for equipment from a top brand such as Lennox. Just talk to your local utility companies to verify which makes and models are eligible. What’s more, you can usually bundle federal and local rebates for even greater savings. Don’t hesitate to see what all you can find, because it can quickly add up to 10% of a new, high-efficiency cooling system.
Obtainable Rebates for Smart Thermostats
A smart thermostat is a particularly valuable addition to your home comfort system. With intelligent programming, you can enhance the daily schedule. Utility companies can benefit from this degree of efficiency, and so most extend rebate programs for new smart thermostats. Over time, these rebates virtually allow you to get a free smart thermostat!
These utility companies also offer programs where they swap discounted rates for the capability to access your thermostat during peak energy use. This helps reduce strain on the grid, especially when heat waves or cold fronts come through. When enrolled in this program, your thermostat can automatically be adjusted by a few degrees.
Other Ways to Save: Tax Credits for Energy-Efficient Equipment and Home Improvement Projects
Slightly different than 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 supplied 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 instead of only once. These credits are eligible for a much larger 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 across the country.
New Legislation for Heat Pump Rebates
The recently passed Inflation Reduction Act included separate legislation known 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 generating it by combusting fuel. To encourage more people to change to this energy-efficient comfort system, these rebates are considerably higher compared to incentives for AC systems and furnaces.
If a household’s income is below 80% of the local median, you can use the rebates to cover 100% of the costs of a new heat pump. Households making 80-150% of the median income can pay for 50% of equipment and installation costs.