A dependable HVAC system is vital for a comfortable and energy-efficient home, but it’s also a significant investment. Every homeowner deserves the most effective 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 affordable.
HVAC efficiency standards are climbing next year, so now’s a great time to compare your options. Different companies, organizations and even government entities are promoting 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 include 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 decrease energy use overall. Local utilities also provide furnace rebates because 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 submit 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 applicable to air conditioners. You can save hundreds on new installation for a system from a leading brand such as Lennox. Just check with your local utility companies to learn which makes and models are eligible. Additionally, you can usually join federal and local rebates for even higher savings. Don’t hesitate to see what all you can find, because it can quickly add up to 10% of a new, high-efficiency cooling system
Potential Rebates for Smart Thermostats
A smart thermostat is a particularly valuable improvement 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 extend rebate programs for new smart thermostats. After some time, these rebates effectively enable you to get a free smart thermostat!
Your utility companies also offer programs where they swap lower 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 show up. When participating in this program, your thermostat may automatically be changed 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 promoted 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 new credits are now worth 30% of the cost and may be claimed each 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 across the country.
New Legislation for Heat Pump Rebates
The recently passed Inflation Reduction Act contained separate legislation known as the High-Efficiency Electric Homes and Rebates Act, or HEEHRA. This incentive is specially aimed toward heat pump technology, which transfers heat instead of creating it by burning fuel. To encourage more people to change to this energy-efficient comfort system, these rebates are considerably higher versus incentives for AC systems and furnaces.
If your 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 take care of 50% of equipment and installation costs.