A well-designed HVAC system is vital for a comfortable and energy-efficient home, but it’s also a significant investment. Every homeowner deserves the most efficient comfort solutions possible, which is why HVAC rebates are so beneficial. They can help guarantee 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 explore your options. Various companies, organizations and even government entities are promoting rebates in 2023 to help everyone procure a new, high-efficiency HVAC system.
Rebates for High-Efficiency Furnaces
Lots of manufacturers of high-efficiency furnaces provide rebates for a new system. These furnaces include energy-efficient components like variable-speed blower motors, which let the thermostat fine-tune how much heating is generated. It’s an easy way to lower energy use overall. Local utilities also share furnace rebates because less energy use results in 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 might be eligible for. Equipment displaying the ENERGY STAR® rating means it fulfills your region’s standards for energy-efficient comfort.
Air Conditioner Rebates
A lot 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 leading brand like Lennox. Just consult your local utility companies to learn which makes and models are eligible. In addition, you can easily bundle federal and local rebates for even higher savings. Don’t hesitate to find out what's all available, because it can easily add up to 10% of a new, high-efficiency AC system
Available Rebates for Smart Thermostats
A smart thermostat is an incredibly valuable improvement to your home comfort system. With intelligent programming, you can fine-tune the daily schedule. Utility companies can benefit from this degree of efficiency, and so most offer rebate programs for new smart thermostats. Over time, these rebates virtually permit you to get a free smart thermostat!
Local utility companies also offer programs where they provide lower rates for the capability to adjust your thermostat during peak energy use. This helps avoid strain on the grid, especially when heat waves or cold fronts arrive. When enrolled in this program, your thermostat can automatically be changed by a few degrees.
Other Ways to Save: Tax Credits for Energy-Efficient Equipment and Home Improvement Projects
A little different than rebates, tax credits are also promoted for the purchase and installation of energy-efficient HVAC systems. For example, the Inflation Reduction Act reactivated 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 as opposed to only once. These credits are available for a much wider variety of projects, like 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 contained separate legislation known as the High-Efficiency Electric Homes and Rebates Act, or HEEHRA. This incentive is specially targeted toward heat pump technology, which transfers heat instead of generating it by burning fuel. To motivate more people to change to this energy-efficient comfort system, these rebates are significantly higher than incentives for AC units and furnaces.
If the household’s income is lower 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 that meet 80-150% of the average income can pay for 50% of equipment and installation costs.