A well-designed HVAC system is vital for a comfortable and energy-efficient home, but it’s also a big investment. Every homeowner deserves the most efficient comfort solutions possible, which is why HVAC rebates are so worthwhile. They can help guarantee high-efficiency furnaces, air conditioners and other equipment is more affordable.
HVAC efficiency standards are increasing next year, so now’s an ideal time to compare 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
Numerous manufacturers of high-efficiency furnaces provide rebates toward buying a new system. These furnaces include energy-efficient components like variable-speed blower motors, which let the thermostat fine-tune how much heating is produced. It’s a fantastic way to decrease energy use overall. Local utilities also share furnace rebates since less energy use means less strain on the local energy grid.
The government’s ENERGY STAR® program is also useful for acquiring a furnace rebate. You can enter your ZIP Code to learn which rebates you may be qualified for. Equipment featuring the ENERGY STAR® rating means it fulfills your region’s standards for energy-efficient performance.
Rebates for Air Conditioning Systems
A lot of of the same rebates for high-efficiency furnaces are also useful for air conditioners. You can save hundreds on new installation for equipment from a leading brand such as Lennox. Just check with your local utility companies to find out which makes and models are eligible. What’s more, 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 quickly add up to 10% of a new, high-efficiency AC system
Potential Rebates for Smart Thermostats
A smart thermostat is an incredibly 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 extend rebate programs for new smart thermostats. After some time, these rebates effectively enable you to get a free smart thermostat!
Local utility companies also provide programs where they exchange reduced rates for the capacity to access your thermostat during peak energy use. This helps minimize strain on the grid, particularly when heat waves or cold fronts arrive. When enrolled in this program, your thermostat may automatically be corrected by a few degrees.
Additional Cost-Saving Options: High Efficiency Products and Home Improvement Credits
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 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 can be claimed every year rather than only once. These credits are eligible for a much larger variety of projects, such as 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 all over the country.
New Legislation for Heat Pump Rebates
The recently passed Inflation Reduction Act included separate legislation called the High-Efficiency Electric Homes and Rebates Act, or HEEHRA. This incentive is especially geared toward heat pump technology, which transfers heat instead of creating it by igniting fuel. To encourage more people to convert to this energy-efficient comfort system, these rebates are considerably higher versus incentives for AC systems and furnaces.
If a 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 making 80-150% of the median income can take care of 50% of equipment and installation costs.