A quality HVAC system is vital for a comfortable and energy-efficient home, but it’s also a major investment. Every homeowner deserves the most productive comfort solutions achievable, which is why HVAC rebates are so worthwhile. They can help ensure 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 explore your options. Different companies, organizations and even government entities are offering rebates in 2023 to help everyone acquire a new, high-efficiency HVAC system.
Rebates for High-Efficiency Furnaces
Numerous manufacturers of high-efficiency furnaces offer rebates for a new system. These furnaces incorporate energy-efficient components like variable-speed blower motors, which let the thermostat optimize how much heating is released. It’s an easy way to lower energy use overall. Local utilities also offer furnace rebates as 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 submit your ZIP Code to find out which rebates you might be eligible for. Equipment displaying the ENERGY STAR® rating means it satisfies your region’s standards for energy-efficient comfort.
Air Conditioner Rebates
Many of the same rebates for high-efficiency furnaces are also suitable for air conditioners. You can save hundreds on new installation for efficient cooling from a leading brand like Lennox. Just talk to your local utility companies to learn which makes and models are eligible. In addition, you can easily 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
Available Rebates for Smart Home Accessories Like Smart Thermostats
A smart thermostat is an incredibly 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. In time, these rebates virtually enable you to get a free smart thermostat!
Local utility companies also provide programs where they swap discounted rates for the capability to access your thermostat during peak energy use. This helps reduce strain on the grid, namely when heat waves or cold fronts come through. When participating in this program, your thermostat may automatically be corrected by a few degrees.
Other Ways to Save: High Efficiency Products and Home Improvement Credits
Somewhat different from 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 each year as opposed to only once. These credits are available 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 across the country.
New Legislation for Heat Pump Rebates
The recently passed Inflation Reduction Act incorporated separate legislation called the High-Efficiency Electric Homes and Rebates Act, or HEEHRA. This incentive is specially geared toward heat pump technology, which transfers heat instead of creating it by combusting fuel. To persuade more people to convert to this energy-efficient comfort system, these rebates are considerably higher than incentives for AC systems and furnaces.
If the household’s income is less 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.