A well-designed HVAC system is crucial 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 beneficial. They can help make sure high-efficiency furnaces, air conditioners and other equipment is more budget friendly.
HVAC efficiency standards are going up next year, so now’s an excellent time to check out your options. Different companies, organizations and even government entities are promoting rebates in 2023 to help everyone acquire a new, high-efficiency HVAC system.
Furnace Rebates Require High Efficiency Models
Lots of manufacturers of high-efficiency furnaces extend rebates toward the cost of a new system. These furnaces include energy-efficient components such as variable-speed blower motors, which enable the thermostat to refine how much heating is produced. It’s a fantastic way to decrease energy use overall. Local utilities also offer furnace rebates as less energy use results in 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 learn which rebates you might be eligible for. Equipment with the ENERGY STAR® rating means it fulfills your region’s standards for energy-efficient comfort.
Rebates for Air Conditioning Systems
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 suitable. Additionally, you can easily join federal and local rebates for even greater 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
2023's Rebates for Smart Thermostats
A smart thermostat is an especially valuable improvement to your home comfort system. With intelligent programming, you can fine-tune the daily schedule. Utility companies highly value this level of efficiency, and so most offer rebate programs for new smart thermostats. After some time, these rebates essentially enable you to get a free smart thermostat!
These utility companies also provide programs where they provide reduced rates for the ability to adjust your thermostat during peak energy use. This helps avoid strain on the grid, namely when heat waves or cold fronts show up. When registered in this program, your thermostat can automatically be changed by a few degrees.
More Ways to Save: High Efficiency Products and Home Improvement Credits
A little 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 may be claimed each year as opposed to only once. These credits are eligible for a much greater variety of projects, such as home energy audits, electrical, insulation, ventilation, and even your doors and windows! The programs are tailored to provide the most benefits for lower-income households, maximizing the improvements to HVAC efficiency nationwide.
New Legislation for Heat Pump Rebates
The recently passed Inflation Reduction Act incorporated separate legislation referred to 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 producing it by burning fuel. To motivate more people to convert to this energy-efficient comfort system, these rebates are significantly higher than incentives for AC systems 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 meeting 80-150% of the typical income can take care of 50% of equipment and installation costs.