A well-designed HVAC system is crucial for a comfortable and energy-efficient home, but it’s also a major investment. Everyone deserves the most productive comfort solutions possible, which is why HVAC rebates are so worthwhile. They can help guarantee high-efficiency furnaces, air conditioners and other equipment is more affordable.
HVAC efficiency standards are increasing next year, so now’s an ideal time to check out your options. A variety of companies, organizations and even government entities are offering rebates in 2023 to help everyone secure a new, high-efficiency HVAC system.
Receive a Tax Rebate by Installing a High Efficiency Furnace
Numerous manufacturers of high-efficiency furnaces offer rebates toward buying a new system. These furnaces include energy-efficient components like variable-speed blower motors, which allow the thermostat to fine-tune how much heating is produced. It’s a fantastic way to lower energy use overall. Local utilities also provide furnace rebates since 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 enter your ZIP Code to see which rebates you might be qualified for. Equipment featuring the ENERGY STAR® rating means it fulfills 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 like Lennox. Just talk to your local utility companies to learn which makes and models are eligible. In addition, you can easily 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
Available Rebates for Smart Home Accessories Like Smart Thermostats
A smart thermostat is an especially valuable upgrade to your home comfort system. With intelligent programming, you can enhance the daily schedule. Utility companies appreciate this degree of efficiency, and so most offer rebate programs for new smart thermostats. After some time, these rebates effectively allow you to get a free smart thermostat!
These utility companies also provide programs where they provide lower rates for the ability to access your thermostat during peak energy use. This helps avoid strain on the grid, namely when heat waves or cold fronts come through. When enrolled in this program, your thermostat can automatically be adjusted by a few degrees.
Other Incentives: Tax Credits for Energy-Efficient Equipment and Home Improvement Projects
Slightly different than 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 provided credits for up to 10% of the project’s cost. The revised credits are now worth 30% of the cost and can be claimed each year as opposed to only once. These credits are available for a much wider variety of projects, like home energy audits, electrical, insulation, ventilation, and even your doors and windows! The programs are tailored to provide 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 known 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 igniting fuel. To persuade more people to transition to this energy-efficient comfort system, these rebates are considerably higher compared to incentives for AC units and furnaces.
If a household’s income is lower 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 typical income can pay for 50% of equipment and installation costs.
