A dependable HVAC system is crucial for a comfortable and energy-efficient home, but it’s also a major investment. Every homeowner deserves the most efficient comfort solutions available, which is why HVAC rebates are so beneficial. They can help make sure high-efficiency furnaces, air conditioners and other equipment is more budget friendly.

HVAC efficiency standards are climbing next year, so now’s an excellent time to compare your options. A variety of companies, organizations and even government entities are promoting rebates in 2023 to help everyone acquire a new, high-efficiency HVAC system.

Receive a Tax Rebate by Installing a High Efficiency Furnace

Numerous manufacturers of high-efficiency furnaces provide rebates toward the cost of a new system. These furnaces feature energy-efficient components like variable-speed blower motors, which let the thermostat refine how much heating is released. 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 helpful for securing a furnace rebate. You can enter your ZIP Code to see which rebates you may be approved for. Equipment displaying the ENERGY STAR® rating means it fulfills 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 applicable to air conditioners. You can save hundreds on new installation for a system from a top brand like Lennox. Just consult your local utility companies to find out which makes and models are suitable. Additionally, you can usually bundle 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 AC system

2023's Rebates for Smart Home Accessories Like 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 can benefit from this kind of efficiency, and so most extend rebate programs for new smart thermostats. In time, these rebates effectively permit you to get a free smart thermostat!

These utility companies also offer programs where they provide reduced 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 arrive. When participating in this program, your thermostat will automatically be corrected by a few degrees.

Additional Ways to Save: Tax Credits for Energy-Efficient Equipment and Home Improvement Projects

A little different from rebates, tax credits are also promoted 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 revised credits are now worth 30% of the cost and may be claimed every year rather than only once. These credits are available 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 share 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 incorporated separate legislation referred to as the High-Efficiency Electric Homes and Rebates Act, or HEEHRA. This incentive is specially aimed toward heat pump technology, which transfers heat instead of producing it by combusting fuel. To persuade more people to change to this energy-efficient comfort system, these rebates are significantly 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 that meet 80-150% of the average income can take care of 50% of equipment and installation costs.