A quality 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 going up next year, so now’s a great time to compare your options. A variety of 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 extend rebates for a new system. These furnaces feature energy-efficient components like variable-speed blower motors, which enable the thermostat to fine-tune 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 results in less strain on the local energy grid.
The government’s ENERGY STAR® program is also recommended for securing a furnace rebate. You can type in your ZIP Code to learn which rebates you might be approved for. Equipment displaying 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 applicable to air conditioners. You can save hundreds on new installation for a system from a top brand like Lennox. Just consult your local utility companies to find out which makes and models are suitable. In addition, you can often 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 cooling system
Potential Rebates for Smart Thermostats
A smart thermostat is an especially valuable upgrade to your home comfort system. With intelligent programming, you can enhance the daily schedule. Utility companies can benefit from this level of efficiency, and so most offer rebate programs for new smart thermostats. After some time, these rebates virtually enable you to get a free smart thermostat!
Local utility companies also create programs where they provide reduced rates for the capacity to control your thermostat during peak energy use. This helps minimize strain on the grid, namely when heat waves or cold fronts arrive. When enrolled 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 than rebates, tax credits are also offered 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 instead of only once. These credits are obtainable 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 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 included separate legislation referred to 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 generating it by burning fuel. To encourage more people to transition to this energy-efficient comfort system, these rebates are significantly higher versus incentives for AC systems and furnaces.
If the household’s income is lower than 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 typical income can pay for 50% of equipment and installation costs.