A quality HVAC system is crucial for a comfortable and energy-efficient home, but it’s also a big investment. You deserve the most effective comfort solutions available, 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 ideal time to check out your options. Various companies, organizations and even government entities are promoting rebates in 2023 to help everyone procure 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 buying a new system. These furnaces feature energy-efficient components like variable-speed blower motors, which let the thermostat refine how much heating is produced. 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 useful for obtaining a furnace rebate. You can enter your ZIP Code to learn which rebates you might be eligible for. Equipment displaying the ENERGY STAR® rating means it meets your region’s standards for energy-efficient comfort.
Earning a Rebate for a High Efficiency Air Conditioner
Plenty of of the same rebates for high-efficiency furnaces are also suitable for air conditioners. You can save hundreds on new installation for a system from a leading brand such as Lennox. Just consult your local utility companies to find out which makes and models are entitled. What’s more, you can often combine federal and local rebates for even greater savings. Don’t hesitate to learn what's out there, because it can quickly add up to 10% of a new, high-efficiency AC system
Available Rebates for Smart Home Accessories Like Smart Thermostats
A smart thermostat is a particularly valuable upgrade to your home comfort system. With intelligent programming, you can fine-tune the daily schedule. Utility companies can benefit from this degree of efficiency, and so most provide rebate programs for new smart thermostats. After some time, these rebates virtually enable you to get a free smart thermostat!
Local utility companies also create programs where they swap reduced rates for the capability to control your thermostat during peak energy use. This helps minimize strain on the grid, namely when heat waves or cold fronts come through. When enrolled in this program, your thermostat may 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 available 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 updated credits are now worth 30% of the cost and may be claimed every year instead of only once. These credits are obtainable for a much wider 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 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 especially targeted toward heat pump technology, which transfers heat instead of producing it by combusting 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 a household’s income is lower 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 meeting 80-150% of the median income can pay for 50% of equipment and installation costs.