A well-designed HVAC system is vital for a comfortable and energy-efficient home, but it’s also a major investment. You deserve the most productive comfort solutions possible, 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 going up next year, so now’s a great time to check out 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 offer rebates toward the cost of a new system. These furnaces incorporate energy-efficient components such as variable-speed blower motors, which allow the thermostat to refine how much heating is released. It’s a fantastic way to decrease energy use overall. Local utilities also share 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 acquiring a furnace rebate. You can enter your ZIP Code to learn which rebates you could be qualified for. Equipment displaying the ENERGY STAR® rating means it fulfills your region’s standards for energy-efficient comfort.
Air Conditioner Rebates
Many of the same rebates for high-efficiency furnaces are also suitable for air conditioners. You can save hundreds on new installation for equipment from a top brand such as Lennox. Just talk to your local utility companies to verify which makes and models are suitable. Additionally, you can usually join federal and local rebates for even more savings. Don’t hesitate to learn what's out there, because it can quickly add up to 10% of a new, high-efficiency AC system.
Obtainable Rebates for Smart Thermostats
A smart thermostat is an incredibly valuable improvement 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 effectively enable you to get a free smart thermostat!
These utility companies also create programs where they provide reduced rates for the capacity to access your thermostat during peak energy use. This helps reduce strain on the grid, namely when heat waves or cold fronts arrive. When enrolled in this program, your thermostat may automatically be corrected by a few degrees.
Additional Ways to Save: Tax Credits for Energy-Efficient Equipment and Home Improvement Projects
Somewhat different from rebates, tax credits are also promoted 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 new credits are now worth 30% of the cost and can be claimed each 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 offer 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 contained separate legislation referred to as the High-Efficiency Electric Homes and Rebates Act, or HEEHRA. This incentive is particularly targeted toward heat pump technology, which transfers heat instead of producing it by combusting fuel. To encourage more people to convert to this energy-efficient comfort system, these rebates are substantially higher compared to incentives for AC systems 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 meeting 80-150% of the median income can cover 50% of equipment and installation costs.