A well-designed HVAC system is essential for a comfortable and energy-efficient home, but it’s also a significant investment. Everyone deserves the most productive comfort solutions possible, 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 a great time to explore your options. A variety of 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 provide rebates for a new system. These furnaces feature energy-efficient components such as variable-speed blower motors, which enable the thermostat to fine-tune how much heating is produced. It’s a great way to decrease energy use overall. Local utilities also offer furnace rebates since less energy use results in less strain on the local energy grid.
The government’s ENERGY STAR® program is also helpful for securing a furnace rebate. You can enter your ZIP Code to find out which rebates you might be qualified for. Equipment featuring the ENERGY STAR® rating means it satisfies your region’s standards for energy-efficient comfort.
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 efficient cooling from a leading brand like Lennox. Just talk to your local utility companies to learn which makes and models are suitable. What’s more, you can easily bundle federal and local rebates for even higher 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 Thermostats
A smart thermostat is a particularly valuable addition to your home comfort system. With intelligent programming, you can enhance 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!
These utility companies also offer programs where they swap discounted rates for the capability to access your thermostat during peak energy use. This helps reduce strain on the grid, namely when heat waves or cold fronts arrive. When participating in this program, your thermostat will automatically be adjusted by a few degrees.
More Ways to Save: Tax Credits for Energy-Efficient Equipment and Home Improvement Projects
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 reactivated a program in 2021 that provided 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 eligible for a much greater variety of projects, like home energy audits, electrical, insulation, ventilation, and even your doors and windows! The programs are tailored 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 incorporated 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 creating it by combusting fuel. To persuade more people to transition to this energy-efficient comfort system, these rebates are significantly higher versus 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 making 80-150% of the typical income can take care of 50% of equipment and installation costs.