A dependable HVAC system is vital for a comfortable and energy-efficient home, but it’s also a significant investment. Everyone deserves the most effective comfort solutions achievable, which is why HVAC rebates are so worthwhile. They can help make sure high-efficiency furnaces, air conditioners and other equipment is more budget friendly.
HVAC efficiency standards are climbing next year, so now’s an excellent time to compare your options. Various companies, organizations and even government entities are extending rebates in 2023 to help everyone procure a new, high-efficiency HVAC system.
Rebates for High-Efficiency Furnaces
Lots of manufacturers of high-efficiency furnaces extend rebates for a new system. These furnaces incorporate energy-efficient components like variable-speed blower motors, which let the thermostat refine how much heating is released. It’s an easy way to lower energy use overall. Local utilities also share furnace rebates since less energy use translates to less strain on the local energy grid.
The government’s ENERGY STAR® program is also recommended for obtaining a furnace rebate. You can type in your ZIP Code to see which rebates you may be qualified for. Equipment with the ENERGY STAR® rating means it satisfies your region’s standards for energy-efficient operation.
Air Conditioner Rebates
Plenty of of the same rebates for high-efficiency furnaces are also suitable for air conditioners. You can save hundreds on new installation for efficient cooling from a top brand like Lennox. Just talk to your local utility companies to learn which makes and models are entitled. Additionally, you can easily combine federal and local rebates for even more savings. Don’t hesitate to see what all you can find, 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 addition to your home comfort system. With intelligent programming, you can fine-tune the daily schedule. Utility companies appreciate this degree of efficiency, and so most provide rebate programs for new smart thermostats. In time, these rebates virtually permit you to get a free smart thermostat!
Your utility companies also provide programs where they exchange lower rates for the capability to adjust your thermostat during peak energy use. This helps minimize strain on the grid, namely when heat waves or cold fronts show up. When registered in this program, your thermostat may automatically be adjusted by a few degrees.
Other 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 systems. For example, the Inflation Reduction Act reactivated a program in 2021 that supplied 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 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 tailored to share 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 incorporated separate legislation known as the High-Efficiency Electric Homes and Rebates Act, or HEEHRA. This incentive is especially geared toward heat pump technology, which transfers heat instead of generating it by igniting fuel. To motivate more people to convert to this energy-efficient comfort system, these rebates are substantially higher versus incentives for AC units and furnaces.
If a household’s income is below 80% of the local median, you are able to 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.