A dependable HVAC system is crucial for a comfortable and energy-efficient home, but it’s also a big investment. Every homeowner deserves the most efficient 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 increasing next year, so now’s an ideal time to explore your options. Various companies, organizations and even government entities are promoting rebates in 2023 to help everyone acquire a new, high-efficiency HVAC system.
Furnace Rebates Require High Efficiency Models
Lots of manufacturers of high-efficiency furnaces offer rebates toward buying a new system. These furnaces feature energy-efficient components like variable-speed blower motors, which enable the thermostat to optimize how much heating is generated. It’s a great way to lower 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 recommended for acquiring a furnace rebate. You can type in your ZIP Code to learn which rebates you may be qualified for. Equipment displaying the ENERGY STAR® rating means it fulfills your region’s standards for energy-efficient performance.
Air Conditioner Rebates
Plenty 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 such as Lennox. Just consult your local utility companies to find out which makes and models are entitled. In addition, you can often bundle 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 cooling system
Potential Rebates for Smart Home Accessories Like Smart Thermostats
A smart thermostat is an especially valuable improvement 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 essentially permit you to get a free smart thermostat!
Your utility companies also provide programs where they exchange discounted rates for the capability to control your thermostat during peak energy use. This helps reduce strain on the grid, especially when heat waves or cold fronts come through. When participating in this program, your thermostat can automatically be adjusted by a few degrees.
More Incentives: High Efficiency Products and Home Improvement Credits
A little different from rebates, tax credits are also available for the purchase and installation of energy-efficient HVAC equipment. 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 rather than 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 tailored to provide 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 contained separate legislation known as the High-Efficiency Electric Homes and Rebates Act, or HEEHRA. This incentive is especially aimed toward heat pump technology, which transfers heat instead of creating it by burning fuel. To persuade more people to transition to this energy-efficient comfort system, these rebates are substantially higher compared to 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.