A well-designed HVAC system is vital 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 guarantee high-efficiency furnaces, air conditioners and other equipment is more affordable.
HVAC efficiency standards are climbing next year, so now’s an excellent time to explore your options. A variety of companies, organizations and even government entities are offering rebates in 2023 to help everyone procure a new, high-efficiency HVAC system.
Rebates for High-Efficiency Furnaces
Many manufacturers of high-efficiency furnaces offer rebates for a new system. These furnaces feature energy-efficient components such as variable-speed blower motors, which allow the thermostat to fine-tune how much heating is generated. It’s a fantastic way to decrease energy use overall. Local utilities also offer furnace rebates as less energy use translates to less strain on the local energy grid.
The government’s ENERGY STAR® program is also helpful for acquiring a furnace rebate. You can type in your ZIP Code to find out which rebates you might be qualified for. Equipment featuring the ENERGY STAR® rating means it fulfills your region’s standards for energy-efficient comfort.
Air Conditioner Rebates
Plenty of of the same rebates for high-efficiency furnaces are also suitable 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 suitable. In addition, you can often bundle federal and local rebates for even higher 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 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 appreciate this kind of efficiency, and so most extend rebate programs for new smart thermostats. Over time, these rebates effectively enable you to get a free smart thermostat!
Local utility companies also provide programs where they exchange discounted rates for the capacity to adjust your thermostat during peak energy use. This helps avoid strain on the grid, namely when heat waves or cold fronts come through. When registered in this program, your thermostat may automatically be corrected by a few degrees.
Other Ways to Save: Tax Credits for Energy-Efficient Equipment and Home Improvement Projects
Somewhat different than rebates, tax credits are also promoted for the purchase and installation of energy-efficient HVAC systems. For example, the Inflation Reduction Act restarted a program in 2021 that supplied credits for up to 10% of the project’s cost. The updated credits are now worth 30% of the cost and may be claimed each year as opposed to only once. These credits are obtainable for a much larger variety of projects, like 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 all over the country.
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 especially targeted toward heat pump technology, which transfers heat instead of creating it by igniting fuel. To motivate more people to transition to this energy-efficient comfort system, these rebates are substantially higher compared to incentives for AC systems and furnaces.
If a household’s income is lower than 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 cover 50% of equipment and installation costs.