A well-designed HVAC system is essential for a comfortable and energy-efficient home, but it’s also a significant investment. Every homeowner deserves the most effective comfort solutions available, which is why HVAC rebates are so beneficial. They can help make sure high-efficiency furnaces, air conditioners and other equipment is more affordable.
HVAC efficiency standards are increasing next year, so now’s an excellent time to explore your options. Various companies, organizations and even government entities are offering rebates in 2023 to help everyone procure a new, high-efficiency HVAC system.
Furnace Rebates Require High Efficiency Models
Many manufacturers of high-efficiency furnaces extend rebates for a new system. These furnaces feature energy-efficient components such as variable-speed blower motors, which allow the thermostat to fine-tune how much heating is released. It’s a fantastic way to reduce energy use overall. Local utilities also offer furnace rebates as less energy use translates to less strain on the local energy grid.
The government’s ENERGY STAR® program is also useful for obtaining a furnace rebate. You can submit your ZIP Code to learn which rebates you could be eligible for. Equipment with the ENERGY STAR® rating means it satisfies your region’s standards for energy-efficient operation.
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 leading brand such as Lennox. Just consult your local utility companies to learn which makes and models are eligible. What’s more, you can usually join federal and local rebates for even greater savings. Don’t hesitate to learn what's out there, because it can quickly add up to 10% of a new, high-efficiency cooling system
Potential Rebates for Smart Thermostats
A smart thermostat is an especially valuable addition to your home comfort system. With intelligent programming, you can enhance the daily schedule. Utility companies can benefit from this kind of efficiency, and so most offer rebate programs for new smart thermostats. Over time, these rebates virtually permit you to get a free smart thermostat!
Your utility companies also provide programs where they swap discounted rates for the ability to adjust your thermostat during peak energy use. This helps avoid strain on the grid, particularly when heat waves or cold fronts show up. When enrolled in this program, your thermostat can automatically be adjusted by a few degrees.
More Cost-Saving Options: High Efficiency Products and Home Improvement Credits
Slightly different compared to rebates, tax credits are also promoted for the purchase and installation of energy-efficient HVAC systems. For example, the Inflation Reduction Act reactivated a program in 2021 that offered credits for up to 10% of the project’s cost. The updated credits are now worth 30% of the cost and may be claimed every year instead of only once. These credits are obtainable for a much wider 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 nationwide.
New Legislation for Heat Pump Rebates
The recently passed Inflation Reduction Act contained separate legislation known as the High-Efficiency Electric Homes and Rebates Act, or HEEHRA. This incentive is particularly aimed toward heat pump technology, which transfers heat instead of producing it by igniting fuel. To encourage more people to change to this energy-efficient comfort system, these rebates are considerably higher versus incentives for AC units and furnaces.
If the 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 median income can cover 50% of equipment and installation costs.