A well-designed HVAC system is crucial 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 beneficial. They can help ensure high-efficiency furnaces, air conditioners and other equipment is more affordable.
HVAC efficiency standards are climbing next year, so now’s an excellent 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.
Receive a Tax Rebate by Installing a High Efficiency Furnace
Many manufacturers of high-efficiency furnaces provide rebates for a new system. These furnaces feature 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 reduce energy use overall. Local utilities also provide furnace rebates as less energy use translates to less strain on the local energy grid.
The government’s ENERGY STAR® program is also helpful for securing a furnace rebate. You can enter your ZIP Code to learn which rebates you may be eligible 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
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 consult your local utility companies to find out which makes and models are suitable. What’s more, you can usually combine federal and local rebates for even more savings. Don’t hesitate to find out what's all available, because it can quickly add up to 10% of a new, high-efficiency air conditioner
Available Rebates for Smart Thermostats
A smart thermostat is a particularly valuable improvement 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 virtually permit you to get a free smart thermostat!
Your utility companies also create programs where they swap reduced rates for the capability to control your thermostat during peak energy use. This helps avoid strain on the grid, especially when heat waves or cold fronts arrive. When registered in this program, your thermostat will automatically be corrected by a few degrees.
More Cost-Saving Options: Tax Credits for Energy-Efficient Equipment and Home Improvement Projects
A little 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 restarted 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 may be claimed every year instead of 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 fashioned to offer 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 contained separate legislation called the High-Efficiency Electric Homes and Rebates Act, or HEEHRA. This incentive is specially aimed toward heat pump technology, which transfers heat instead of creating it by combusting fuel. To encourage 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 less than 80% of the local median, you can use the rebates to cover 100% of the costs of a new heat pump. Households meeting 80-150% of the median income can pay for 50% of equipment and installation costs.
