A well-designed HVAC system is essential for a comfortable and energy-efficient home, but it’s also a major investment. Everyone deserves the most efficient comfort solutions available, which is why HVAC rebates are so beneficial. They can help guarantee high-efficiency furnaces, air conditioners and other equipment is more budget friendly.
HVAC efficiency standards are climbing next year, so now’s an excellent time to explore your options. Different companies, organizations and even government entities are extending rebates in 2023 to help everyone procure a new, high-efficiency HVAC system.
Rebates for High-Efficiency Furnaces
Lots of manufacturers of high-efficiency furnaces offer rebates for a new system. These furnaces incorporate energy-efficient components like variable-speed blower motors, which allow the thermostat to fine-tune how much heating is released. It’s a great way to lower energy use overall. Local utilities also share furnace rebates as less energy use means less strain on the local energy grid.
The government’s ENERGY STAR® program is also useful for obtaining a furnace rebate. You can type in your ZIP Code to see which rebates you may be qualified for. Equipment displaying the ENERGY STAR® rating means it meets your region’s standards for energy-efficient operation.
Air Conditioner Rebates
A lot of 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 leading brand like Lennox. Just consult your local utility companies to find out which makes and models are eligible. In addition, you can often join federal and local rebates for even greater savings. Don’t hesitate to find out what's all available, because it can quickly add up to 10% of a new, high-efficiency cooling system
Potential Rebates for Smart Thermostats
A smart thermostat is a particularly valuable upgrade 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. Over time, these rebates effectively allow you to get a free smart thermostat!
These utility companies also provide programs where they exchange discounted rates for the ability to control your thermostat during peak energy use. This helps avoid strain on the grid, especially when heat waves or cold fronts come through. When participating in this program, your thermostat will automatically be changed 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 equipment. 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 each year instead of 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 fashioned to share 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 contained separate legislation called the High-Efficiency Electric Homes and Rebates Act, or HEEHRA. This incentive is particularly targeted toward heat pump technology, which transfers heat instead of generating it by burning fuel. To encourage more people to transition to this energy-efficient comfort system, these rebates are substantially higher compared to 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 that meet 80-150% of the typical income can take care of 50% of equipment and installation costs.