A dependable HVAC system is vital 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 worthwhile. They can help make sure high-efficiency furnaces, air conditioners and other equipment is more affordable.
HVAC efficiency standards are going up next year, so now’s an excellent time to explore your options. Various companies, organizations and even government entities are promoting rebates in 2023 to help everyone secure a new, high-efficiency HVAC system.
Receive a Tax Rebate by Installing a High Efficiency Furnace
Lots of manufacturers of high-efficiency furnaces provide rebates toward the cost of a new system. These furnaces incorporate energy-efficient components such as variable-speed blower motors, which enable the thermostat to optimize how much heating is released. It’s a great way to reduce energy use overall. Local utilities also provide furnace rebates as less energy use means less strain on the local energy grid.
The government’s ENERGY STAR® program is also recommended for acquiring a furnace rebate. You can type in your ZIP Code to find out which rebates you may be approved for. Equipment featuring the ENERGY STAR® rating means it satisfies your region’s standards for energy-efficient performance.
Earning a Rebate for a High Efficiency Air Conditioner
Plenty of 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 top brand like Lennox. Just check with your local utility companies to verify which makes and models are entitled. In addition, you can usually join federal and local rebates for even more savings. Don’t hesitate to learn what's out there, because it can easily add up to 10% of a new, high-efficiency cooling system
Available Rebates for Smart Home Accessories Like Smart Thermostats
A smart thermostat is an especially valuable improvement 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 offer rebate programs for new smart thermostats. Over time, these rebates effectively enable you to get a free smart thermostat!
Your utility companies also offer programs where they swap reduced rates for the capability to control your thermostat during peak energy use. This helps avoid strain on the grid, namely when heat waves or cold fronts come through. When registered in this program, your thermostat will automatically be changed by a few degrees.
Additional Incentives: High Efficiency Products and Home Improvement Credits
A little different than rebates, tax credits are also offered 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 new credits are now worth 30% of the cost and may be claimed each 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 nationwide.
New Legislation for Heat Pump Rebates
The recently passed Inflation Reduction Act included separate legislation known as the High-Efficiency Electric Homes and Rebates Act, or HEEHRA. This incentive is especially targeted toward heat pump technology, which transfers heat instead of generating it by burning fuel. To encourage more people to change to this energy-efficient comfort system, these rebates are significantly higher versus incentives for AC units and furnaces.
If the household’s income is less than 80% of the local median, you could use the rebates to cover 100% of the costs of a new heat pump. Households that meet 80-150% of the average income can pay for 50% of equipment and installation costs.