A dependable HVAC system is essential for a comfortable and energy-efficient home, but it’s also a significant investment. You deserve the most productive comfort solutions possible, which is why HVAC rebates are so worthwhile. They can help make sure high-efficiency furnaces, air conditioners and other equipment is more budget friendly.
HVAC efficiency standards are increasing next year, so now’s a great time to explore your options. A variety of 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
Many manufacturers of high-efficiency furnaces provide rebates toward buying a new system. These furnaces feature energy-efficient components like variable-speed blower motors, which enable the thermostat to refine how much heating is produced. It’s a fantastic way to decrease energy use overall. Local utilities also share furnace rebates because 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 type in your ZIP Code to see which rebates you may be approved for. Equipment with the ENERGY STAR® rating means it satisfies 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 top brand like Lennox. Just consult your local utility companies to learn which makes and models are suitable. What’s more, you can often bundle federal and local rebates for even more savings. Don’t hesitate to learn what's out there, because it can quickly add up to 10% of a new, high-efficiency air conditioner
Potential Rebates for Smart Thermostats
A smart thermostat is an incredibly valuable addition to your home comfort system. With intelligent programming, you can optimize the daily schedule. Utility companies highly value this degree of efficiency, and so most offer rebate programs for new smart thermostats. In time, these rebates effectively enable you to get a free smart thermostat!
Local utility companies also create programs where they swap discounted rates for the capability to control your thermostat during peak energy use. This helps reduce strain on the grid, particularly when heat waves or cold fronts come through. When registered in this program, your thermostat may automatically be adjusted by a few degrees.
Other Ways to Save: High Efficiency Products and Home Improvement Credits
A little 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 supplied credits for up to 10% of the project’s cost. The revised 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 greater variety of projects, such as home energy audits, electrical, insulation, ventilation, and even your doors and windows! The programs are tailored 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 particularly targeted toward heat pump technology, which transfers heat instead of producing it by igniting fuel. To encourage more people to convert to this energy-efficient comfort system, these rebates are significantly higher versus incentives for AC units and furnaces.
If the household’s income is lower than 80% of the local median, you can use the rebates to cover 100% of the costs of a new heat pump. Households making 80-150% of the median income can pay for 50% of equipment and installation costs.