A well-designed HVAC system is vital for a comfortable and energy-efficient home, but it’s also a big investment. You deserve the most efficient comfort solutions possible, which is why HVAC rebates are so important. They can help ensure high-efficiency furnaces, air conditioners and other equipment is more budget friendly.
HVAC efficiency standards are increasing next year, so now’s an excellent time to check out your options. A variety of companies, organizations and even government entities are promoting rebates in 2023 to help everyone secure a new, high-efficiency HVAC system.
Rebates for High-Efficiency Furnaces
Lots of manufacturers of high-efficiency furnaces provide rebates toward buying a new system. These furnaces incorporate energy-efficient components like variable-speed blower motors, which allow the thermostat to optimize how much heating is generated. It’s a great way to decrease energy use overall. Local utilities also offer 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 submit your ZIP Code to find out which rebates you could be approved for. Equipment featuring the ENERGY STAR® rating means it meets your region’s standards for energy-efficient operation.
Air Conditioner Rebates
Plenty of of the same rebates for high-efficiency furnaces are also applicable to air conditioners. You can save hundreds on new installation for efficient cooling from a leading brand such as Lennox. Just talk to your local utility companies to verify which makes and models are eligible. Additionally, you can often combine federal and local rebates for even more savings. Don’t hesitate to learn what's out there, because it can easily add up to 10% of a new, high-efficiency AC system.
Obtainable Rebates for Smart Thermostats
A smart thermostat is an especially valuable addition to your home comfort system. With intelligent programming, you can optimize the daily schedule. Utility companies can benefit from this level of efficiency, and so most provide rebate programs for new smart thermostats. In time, these rebates essentially permit you to get a free smart thermostat!
Local utility companies also create programs where they provide reduced rates for the capacity to adjust your thermostat during peak energy use. This helps avoid strain on the grid, particularly when heat waves or cold fronts arrive. When registered in this program, your thermostat may automatically be adjusted by a few degrees.
More Ways to Save: Tax Credits for Energy-Efficient Equipment and Home Improvement Projects
Slightly different compared to 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 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 every year rather than only once. These credits are obtainable for a much greater variety of projects, like home energy audits, electrical, insulation, ventilation, and even your doors and windows! The programs are tailored to offer 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 incorporated separate legislation known as the High-Efficiency Electric Homes and Rebates Act, or HEEHRA. This incentive is particularly geared toward heat pump technology, which transfers heat instead of producing it by burning fuel. To encourage more people to convert 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 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 median income can pay for 50% of equipment and installation costs.