A well-designed HVAC system is vital for a comfortable and energy-efficient home, but it’s also a major investment. You deserve the most effective comfort solutions possible, which is why HVAC rebates are so beneficial. They can help make sure 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. A variety of companies, organizations and even government entities are extending rebates in 2023 to help everyone acquire 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 allow the thermostat to optimize how much heating is generated. It’s an easy way to lower energy use overall. Local utilities also provide furnace rebates as 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 submit your ZIP Code to learn which rebates you could be qualified for. Equipment featuring the ENERGY STAR® rating means it fulfills your region’s standards for energy-efficient comfort.
Rebates for Air Conditioning Systems
Many of the same rebates for high-efficiency furnaces are also applicable to air conditioners. You can save hundreds on new installation for efficient cooling from a top brand such as Lennox. Just consult your local utility companies to learn which makes and models are suitable. Additionally, you can usually bundle federal and local rebates for even greater 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 Home Accessories Like Smart Thermostats
A smart thermostat is an incredibly 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 extend rebate programs for new smart thermostats. Over time, these rebates effectively allow you to get a free smart thermostat!
Your utility companies also provide programs where they swap lower rates for the ability to control your thermostat during peak energy use. This helps reduce strain on the grid, namely when heat waves or cold fronts show up. When registered in this program, your thermostat can automatically be changed by a few degrees.
Additional Ways to Save: Tax Credits for Energy-Efficient Equipment and Home Improvement Projects
Somewhat different than rebates, tax credits are also available 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 new credits are now worth 30% of the cost and may be claimed every year as opposed to only once. These credits are eligible for a much larger variety of projects, like home energy audits, electrical, insulation, ventilation, and even your doors and windows! The programs are designed 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 included separate legislation referred to as the High-Efficiency Electric Homes and Rebates Act, or HEEHRA. This incentive is especially targeted toward heat pump technology, which transfers heat instead of creating it by burning fuel. To motivate more people to transition to this energy-efficient comfort system, these rebates are considerably higher than incentives for AC units and furnaces.
If your 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 that meet 80-150% of the average income can cover 50% of equipment and installation costs.
