A dependable HVAC system is essential for a comfortable and energy-efficient home, but it’s also a big investment. You deserve the most productive 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. Different companies, organizations and even government entities are extending rebates in 2023 to help everyone secure a new, high-efficiency HVAC system.
Furnace Rebates Require High Efficiency Models
Lots of manufacturers of high-efficiency furnaces offer rebates for a new system. These furnaces include energy-efficient components such as variable-speed blower motors, which let the thermostat refine how much heating is generated. It’s a great way to lower 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 recommended for obtaining a furnace rebate. You can enter your ZIP Code to find out which rebates you could be approved for. Equipment featuring the ENERGY STAR® rating means it fulfills your region’s standards for energy-efficient performance.
Earning a Rebate for a High Efficiency Air Conditioner
Many 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 leading brand such as Lennox. Just consult your local utility companies to learn which makes and models are entitled. 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 Home Accessories Like Smart Thermostats
A smart thermostat is an especially valuable addition to your home comfort system. With intelligent programming, you can fine-tune the daily schedule. Utility companies appreciate this level of efficiency, and so most offer rebate programs for new smart thermostats. After some time, these rebates virtually enable you to get a free smart thermostat!
Your utility companies also provide programs where they exchange lower rates for the capacity to access your thermostat during peak energy use. This helps avoid strain on the grid, particularly when heat waves or cold fronts come through. When enrolled in this program, your thermostat may automatically be corrected by a few degrees.
Additional Ways to Save: Tax Credits for Energy-Efficient Equipment and Home Improvement Projects
A little different from rebates, tax credits are also promoted 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 as opposed to only once. These credits are obtainable for a much larger variety of projects, such as 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 all over 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 especially geared toward heat pump technology, which transfers heat instead of producing it by igniting fuel. To motivate more people to change 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 making 80-150% of the typical income can take care of 50% of equipment and installation costs.