A well-designed HVAC system is crucial for a comfortable and energy-efficient home, but it’s also a significant investment. Everyone deserves the most productive comfort solutions achievable, which is why HVAC rebates are so worthwhile. 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. Various companies, organizations and even government entities are promoting rebates in 2023 to help everyone acquire a new, high-efficiency HVAC system.
Rebates for High-Efficiency Furnaces
Numerous manufacturers of high-efficiency furnaces provide rebates toward the cost of a new system. These furnaces incorporate energy-efficient components such as variable-speed blower motors, which enable the thermostat to refine how much heating is generated. It’s an easy way to decrease energy use overall. Local utilities also provide furnace rebates because less energy use means less strain on the local energy grid.
The government’s ENERGY STAR® program is also useful for acquiring a furnace rebate. You can enter your ZIP Code to see which rebates you may be eligible for. Equipment with the ENERGY STAR® rating means it satisfies your region’s standards for energy-efficient performance.
Air Conditioner Rebates
A lot of of the same rebates for high-efficiency furnaces are also useful for air conditioners. You can save hundreds on new installation for a system from a top brand such as Lennox. Just consult your local utility companies to find out which makes and models are eligible. In addition, you can often combine federal and local rebates for even higher savings. Don’t hesitate to see what all you can find, because it can easily add up to 10% of a new, high-efficiency air conditioner.
Potential Rebates for Smart Thermostats
A smart thermostat is an incredibly valuable upgrade to your home comfort system. With intelligent programming, you can optimize the daily schedule. Utility companies appreciate this kind of efficiency, and so most provide rebate programs for new smart thermostats. After some time, these rebates essentially enable you to get a free smart thermostat!
These utility companies also create programs where they swap reduced rates for the capability to adjust your thermostat during peak energy use. This helps reduce strain on the grid, namely when heat waves or cold fronts show up. When enrolled in this program, your thermostat may automatically be changed by a few degrees.
Other Ways to Save: Tax Credits for Energy-Efficient Equipment and Home Improvement Projects
Somewhat different from rebates, tax credits are also offered for the purchase and installation of energy-efficient HVAC systems. For example, the Inflation Reduction Act restarted a program in 2021 that provided credits for up to 10% of the project’s cost. The revised credits are now worth 30% of the cost and can be claimed every year rather than only once. These credits are eligible for a much wider variety of projects, like home energy audits, electrical, insulation, ventilation, and even your doors and windows! The programs are fashioned to share 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 included separate legislation known 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 creating it by burning fuel. To motivate more people to convert to this energy-efficient comfort system, these rebates are considerably higher compared to incentives for AC systems and furnaces.
If your household’s income is lower than 80% of the local median, you could use the rebates to cover 100% of the costs of a new heat pump. Households meeting 80-150% of the average income can cover 50% of equipment and installation costs.