A well-designed HVAC system is vital for a comfortable and energy-efficient home, but it’s also a big investment. You deserve the most efficient comfort solutions achievable, 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 climbing next year, so now’s an ideal time to check out your options. A variety of companies, organizations and even government entities are offering rebates in 2023 to help everyone acquire a new, high-efficiency HVAC system.
Rebates for High-Efficiency Furnaces
Numerous manufacturers of high-efficiency furnaces offer rebates toward buying a new system. These furnaces incorporate energy-efficient components such as variable-speed blower motors, which allow the thermostat to fine-tune how much heating is generated. It’s an easy way to decrease energy use overall. Local utilities also offer furnace rebates as less energy use results in less strain on the local energy grid.
The government’s ENERGY STAR® program is also helpful for obtaining a furnace rebate. You can enter your ZIP Code to find out which rebates you might be approved for. Equipment displaying the ENERGY STAR® rating means it meets your region’s standards for energy-efficient comfort.
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 a system from a top brand like Lennox. Just talk to your local utility companies to find out which makes and models are entitled. In addition, you can usually join federal and local rebates for even more savings. Don’t hesitate to see what all you can find, because it can easily add up to 10% of a new, high-efficiency cooling system.
Available Rebates for Smart Thermostats
A smart thermostat is a particularly 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 offer rebate programs for new smart thermostats. Over time, these rebates essentially allow you to get a free smart thermostat!
Your utility companies also provide programs where they swap lower rates for the capability to access your thermostat during peak energy use. This helps avoid strain on the grid, namely when heat waves or cold fronts show up. When registered in this program, your thermostat can automatically be adjusted by a few degrees.
Additional Ways to Save: Tax Credits for Energy-Efficient Equipment and Home Improvement Projects
Slightly different from rebates, tax credits are also promoted for the purchase and installation of energy-efficient HVAC equipment. For example, the Inflation Reduction Act restarted 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 each year instead of 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 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 contained separate legislation called the High-Efficiency Electric Homes and Rebates Act, or HEEHRA. This incentive is particularly geared toward heat pump technology, which transfers heat instead of producing it by burning fuel. To motivate more people to convert to this energy-efficient comfort system, these rebates are significantly higher compared to incentives for AC units and furnaces.
If your 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 making 80-150% of the typical income can cover 50% of equipment and installation costs.