A quality HVAC system is crucial for a comfortable and energy-efficient home, but it’s also a major investment. You deserve the most productive comfort solutions possible, 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 increasing next year, so now’s a great time to compare your options. Various companies, organizations and even government entities are offering rebates in 2023 to help everyone secure a new, high-efficiency HVAC system.
Rebates for High-Efficiency Furnaces
Many manufacturers of high-efficiency furnaces provide rebates for a new system. These furnaces include energy-efficient components such as variable-speed blower motors, which enable the thermostat to optimize how much heating is generated. It’s a great way to decrease energy use overall. Local utilities also offer 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 securing a furnace rebate. You can type in your ZIP Code to see which rebates you might be approved for. Equipment with the ENERGY STAR® rating means it satisfies your region’s standards for energy-efficient operation.
Air Conditioner Rebates
A lot of of the same rebates for high-efficiency furnaces are also suitable for air conditioners. You can save hundreds on new installation for equipment from a top brand such as Lennox. Just consult your local utility companies to find out which makes and models are eligible. 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 cooling system
Obtainable Rebates for 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 highly value this degree of efficiency, and so most provide rebate programs for new smart thermostats. After some time, these rebates effectively permit you to get a free smart thermostat!
Local utility companies also offer programs where they exchange discounted rates for the capacity to control your thermostat during peak energy use. This helps minimize strain on the grid, especially when heat waves or cold fronts come through. When registered in this program, your thermostat may automatically be adjusted by a few degrees.
Additional Ways to Save: Tax Credits for Energy-Efficient Equipment and Home Improvement Projects
A little different compared to rebates, tax credits are also available 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 updated credits are now worth 30% of the cost and can be claimed every year rather than only once. These credits are obtainable for a much larger variety of projects, such as 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 all over the country.
New Legislation for Heat Pump Rebates
The recently passed Inflation Reduction Act incorporated separate legislation called 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 motivate more people to change to this energy-efficient comfort system, these rebates are substantially 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 typical income can pay for 50% of equipment and installation costs.
