A quality HVAC system is vital for a comfortable and energy-efficient home, but it’s also a big investment. You deserve the most effective comfort solutions available, which is why HVAC rebates are so important. They can help ensure high-efficiency furnaces, air conditioners and other equipment is more affordable.
HVAC efficiency standards are increasing next year, so now’s a great time to check out your options. Different 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 provide rebates for a new system. These furnaces feature energy-efficient components like variable-speed blower motors, which allow the thermostat to fine-tune how much heating is generated. It’s a great way to lower energy use overall. Local utilities also provide furnace rebates since less energy use translates to less strain on the local energy grid.
The government’s ENERGY STAR® program is also useful for securing a furnace rebate. You can enter your ZIP Code to see which rebates you may be qualified for. Equipment with the ENERGY STAR® rating means it meets your region’s standards for energy-efficient operation.
Air Conditioner Rebates
A lot of 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 consult your local utility companies to find out which makes and models are entitled. What’s more, you can often bundle federal and local rebates for even more savings. Don’t hesitate to see what all you can find, because it can quickly add up to 10% of a new, high-efficiency AC system
Available Rebates for Smart Thermostats
A smart thermostat is a particularly valuable addition to your home comfort system. With intelligent programming, you can optimize the daily schedule. Utility companies can benefit from this degree of efficiency, and so most provide rebate programs for new smart thermostats. Over time, these rebates effectively allow 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 minimize strain on the grid, especially when heat waves or cold fronts arrive. When registered in this program, your thermostat may automatically be changed 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 available 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 new credits are now worth 30% of the cost and can be claimed each year rather than only once. These credits are obtainable for a much greater variety of projects, including home energy audits, electrical, insulation, ventilation, and even your doors and windows! The programs are fashioned to offer 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 particularly targeted toward heat pump technology, which transfers heat instead of producing it by igniting fuel. To encourage more people to convert to this energy-efficient comfort system, these rebates are considerably higher than incentives for AC units and furnaces.
If the household’s income is below 80% of the local median, you can 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.