A dependable HVAC system is vital for a comfortable and energy-efficient home, but it’s also a significant investment. Every homeowner deserves the most effective comfort solutions available, which is why HVAC rebates are so important. They can help guarantee high-efficiency furnaces, air conditioners and other equipment is more budget friendly.
HVAC efficiency standards are going up next year, so now’s an ideal 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
Many manufacturers of high-efficiency furnaces extend rebates toward the cost of a new system. These furnaces feature energy-efficient components like variable-speed blower motors, which let the thermostat refine how much heating is released. It’s a fantastic way to lower energy use overall. Local utilities also provide furnace rebates since less energy use results in less strain on the local energy grid.
The government’s ENERGY STAR® program is also recommended for obtaining a furnace rebate. You can enter your ZIP Code to see which rebates you might be approved for. Equipment with the ENERGY STAR® rating means it fulfills your region’s standards for energy-efficient operation.
Air Conditioner Rebates
Plenty of of the same rebates for high-efficiency furnaces are also applicable to air conditioners. You can save hundreds on new installation for a system from a top brand such as Lennox. Just check with your local utility companies to find out which makes and models are suitable. Additionally, you can often combine federal and local rebates for even greater savings. Don’t hesitate to learn what's out there, because it can easily add up to 10% of a new, high-efficiency AC system.
Available Rebates for Smart Thermostats
A smart thermostat is an especially valuable addition to your home comfort system. With intelligent programming, you can enhance the daily schedule. Utility companies appreciate this degree of efficiency, and so most offer rebate programs for new smart thermostats. After some time, these rebates virtually allow you to get a free smart thermostat!
Local utility companies also create programs where they provide lower rates for the capacity to adjust your thermostat during peak energy use. This helps avoid strain on the grid, namely when heat waves or cold fronts come through. When participating in this program, your thermostat will automatically be adjusted by a few degrees.
Other Ways to Save: Tax Credits for Energy-Efficient Equipment and Home Improvement Projects
A little different from rebates, tax credits are also available 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 each year as opposed to only once. These credits are eligible for a much wider variety of projects, including home energy audits, electrical, insulation, ventilation, and even your doors and windows! The programs are fashioned to provide 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 contained 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 persuade more people to change to this energy-efficient comfort system, these rebates are substantially higher versus incentives for AC systems and furnaces.
If a household’s income is less than 80% of the local median, you are able to use the rebates to cover 100% of the costs of a new heat pump. Households that meet 80-150% of the average income can take care of 50% of equipment and installation costs.