A quality HVAC system is vital for a comfortable and energy-efficient home, but it’s also a big investment. Everyone deserves the most efficient comfort solutions possible, which is why HVAC rebates are so beneficial. They can help ensure high-efficiency furnaces, air conditioners and other equipment is more budget friendly.
HVAC efficiency standards are climbing next year, so now’s a great time to explore your options. Different 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
Lots of manufacturers of high-efficiency furnaces extend rebates for a new system. These furnaces include energy-efficient components such as variable-speed blower motors, which allow the thermostat to refine how much heating is generated. It’s a fantastic way to decrease energy use overall. Local utilities also offer furnace rebates since less energy use translates to 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 learn which rebates you may be eligible for. Equipment displaying the ENERGY STAR® rating means it satisfies your region’s standards for energy-efficient operation.
Air Conditioner Rebates
Plenty of of the same rebates for high-efficiency furnaces are also applicable to air conditioners. You can save hundreds on new installation for a system from a top brand such as Lennox. Just check with your local utility companies to learn which makes and models are eligible. What’s more, you can usually join federal and local rebates for even higher 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.
Obtainable Rebates for Smart Thermostats
A smart thermostat is a particularly valuable addition to your home comfort system. With intelligent programming, you can optimize the daily schedule. Utility companies can benefit from this level of efficiency, and so most extend rebate programs for new smart thermostats. Over time, these rebates virtually allow you to get a free smart thermostat!
Your utility companies also offer programs where they exchange lower 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 come through. When registered in this program, your thermostat can automatically be changed by a few degrees.
Additional Ways to Save: Tax Credits for Energy-Efficient Equipment and Home Improvement Projects
Slightly 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 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 may be claimed every year instead of only once. These credits are eligible for a much greater variety of projects, like home energy audits, electrical, insulation, ventilation, and even your doors and windows! The programs are designed to offer 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 incorporated separate legislation referred to 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 creating it by igniting fuel. To motivate more people to change to this energy-efficient comfort system, these rebates are considerably higher versus incentives for AC units 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 cover 50% of equipment and installation costs.