A well-designed HVAC system is crucial 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 make sure high-efficiency furnaces, air conditioners and other equipment is more affordable.
HVAC efficiency standards are going up next year, so now’s a great time to compare your options. Various companies, organizations and even government entities are promoting rebates in 2023 to help everyone acquire a new, high-efficiency HVAC system.
Rebates for High-Efficiency Furnaces
Many manufacturers of high-efficiency furnaces provide rebates toward the cost of a new system. These furnaces include energy-efficient components such as variable-speed blower motors, which allow the thermostat to optimize how much heating is released. It’s a fantastic way to decrease energy use overall. Local utilities also provide furnace rebates because less energy use means less strain on the local energy grid.
The government’s ENERGY STAR® program is also recommended for obtaining a furnace rebate. You can submit your ZIP Code to find out which rebates you might be approved for. Equipment featuring the ENERGY STAR® rating means it fulfills your region’s standards for energy-efficient performance.
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 a system from a leading brand like Lennox. Just check with your local utility companies to find out which makes and models are suitable. Additionally, you can easily combine 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
Potential 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 optimize the daily schedule. Utility companies can benefit from this level of efficiency, and so most extend rebate programs for new smart thermostats. In time, these rebates essentially permit you to get a free smart thermostat!
These utility companies also create programs where they exchange reduced rates for the ability to adjust your thermostat during peak energy use. This helps reduce strain on the grid, particularly when heat waves or cold fronts come through. When enrolled in this program, your thermostat may automatically be changed by a few degrees.
More Ways to Save: High Efficiency Products and Home Improvement Credits
Somewhat different compared to rebates, tax credits are also offered for the purchase and installation of energy-efficient HVAC equipment. For example, the Inflation Reduction Act reactivated a program in 2021 that offered credits for up to 10% of the project’s cost. The revised credits are now worth 30% of the cost and can be claimed each year as opposed to only once. These credits are available 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 share the most benefits for lower-income households, maximizing the improvements to HVAC efficiency across the country.
New Legislation for Heat Pump Rebates
The recently passed Inflation Reduction Act included separate legislation known as the High-Efficiency Electric Homes and Rebates Act, or HEEHRA. This incentive is specially targeted toward heat pump technology, which transfers heat instead of creating it by burning fuel. To persuade more people to convert to this energy-efficient comfort system, these rebates are considerably higher compared to incentives for AC systems and furnaces.
If the 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 median income can pay for 50% of equipment and installation costs.