A quality HVAC system is vital for a comfortable and energy-efficient home, but it’s also a big investment. Every homeowner deserves the most effective comfort solutions achievable, which is why HVAC rebates are so important. They can help ensure high-efficiency furnaces, air conditioners and other equipment is more affordable.
HVAC efficiency standards are going up next year, so now’s an ideal time to check out your options. Various companies, organizations and even government entities are promoting rebates in 2023 to help everyone acquire a new, high-efficiency HVAC system.
Furnace Rebates Require High Efficiency Models
Numerous manufacturers of high-efficiency furnaces offer rebates for a new system. These furnaces include energy-efficient components such as variable-speed blower motors, which let the thermostat optimize how much heating is released. It’s a fantastic way to lower energy use overall. Local utilities also provide furnace rebates because less energy use translates to less strain on the local energy grid.
The government’s ENERGY STAR® program is also helpful for obtaining a furnace rebate. You can type in your ZIP Code to learn which rebates you could be approved for. Equipment displaying the ENERGY STAR® rating means it satisfies your region’s standards for energy-efficient comfort.
Earning a Rebate for a High Efficiency Air Conditioner
Plenty of of the same rebates for high-efficiency furnaces are also useful for air conditioners. You can save hundreds on new installation for a system from a leading brand like Lennox. Just consult your local utility companies to find out which makes and models are entitled. What’s more, you can often join federal and local rebates for even higher savings. Don’t hesitate to learn what's out there, because it can quickly add up to 10% of a new, high-efficiency AC system
2023's Rebates for Smart Home Accessories Like Smart Thermostats
A smart thermostat is a particularly valuable addition 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. In time, these rebates essentially enable you to get a free smart thermostat!
These utility companies also provide programs where they provide reduced rates for the capability to access your thermostat during peak energy use. This helps minimize strain on the grid, especially when heat waves or cold fronts arrive. When enrolled in this program, your thermostat may automatically be corrected by a few degrees.
More Incentives: Tax Credits for Energy-Efficient Equipment and Home Improvement Projects
Slightly different from rebates, tax credits are also offered 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 new credits are now worth 30% of the cost and may be claimed every year instead of only once. These credits are available for a much greater 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 across 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 aimed toward heat pump technology, which transfers heat instead of producing it by combusting fuel. To persuade more people to transition to this energy-efficient comfort system, these rebates are substantially higher versus incentives for AC units 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 typical income can cover 50% of equipment and installation costs.