A dependable HVAC system is essential for a comfortable and energy-efficient home, but it’s also a major investment. You deserve the most effective comfort solutions achievable, which is why HVAC rebates are so beneficial. They can help ensure 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 explore your options. Various companies, organizations and even government entities are extending rebates in 2023 to help everyone secure a new, high-efficiency HVAC system.
Rebates for High-Efficiency Furnaces
Lots of manufacturers of high-efficiency furnaces extend rebates toward buying a new system. These furnaces feature energy-efficient components such as variable-speed blower motors, which allow the thermostat to refine how much heating is generated. It’s an easy way to reduce 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 helpful for securing a furnace rebate. You can type in your ZIP Code to see which rebates you might be eligible for. Equipment with the ENERGY STAR® rating means it satisfies your region’s standards for energy-efficient performance.
Earning a Rebate for a High Efficiency Air Conditioner
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 a system from a leading brand like Lennox. Just check with your local utility companies to find out which makes and models are entitled. In addition, you can easily combine federal and local rebates for even greater savings. Don’t hesitate to find out what's all available, because it can easily add up to 10% of a new, high-efficiency AC system
Available Rebates for Smart Home Accessories Like Smart Thermostats
A smart thermostat is an incredibly valuable improvement to your home comfort system. With intelligent programming, you can fine-tune the daily schedule. Utility companies appreciate this kind of efficiency, and so most extend rebate programs for new smart thermostats. Over time, these rebates essentially permit you to get a free smart thermostat!
Local utility companies also create programs where they swap discounted rates for the ability to control your thermostat during peak energy use. This helps reduce strain on the grid, particularly when heat waves or cold fronts show up. When participating in this program, your thermostat can automatically be adjusted by a few degrees.
Other Cost-Saving Options: High Efficiency Products and Home Improvement Credits
Somewhat different compared to 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 offered credits for up to 10% of the project’s cost. The updated credits are now worth 30% of the cost and may be claimed every year as opposed to only once. These credits are obtainable for a much wider variety of projects, such as 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 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 specially aimed toward heat pump technology, which transfers heat instead of creating it by igniting fuel. To persuade more people to convert to this energy-efficient comfort system, these rebates are significantly higher versus incentives for AC units and furnaces.
If a household’s income is less than 80% of the local median, you can use the rebates to cover 100% of the costs of a new heat pump. Households that meet 80-150% of the typical income can pay for 50% of equipment and installation costs.