A quality HVAC system is vital for a comfortable and energy-efficient home, but it’s also a major investment. Everyone deserves the most effective 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 climbing next year, so now’s a great time to explore your options. Various companies, organizations and even government entities are promoting rebates in 2023 to help everyone procure a new, high-efficiency HVAC system.
Rebates for High-Efficiency Furnaces
Numerous manufacturers of high-efficiency furnaces offer 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 fantastic way to lower 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 helpful for acquiring a furnace rebate. You can submit your ZIP Code to learn which rebates you could be qualified for. Equipment displaying the ENERGY STAR® rating means it meets your region’s standards for energy-efficient comfort.
Rebates for Air Conditioning Systems
Plenty of of the same rebates for high-efficiency furnaces are also suitable for air conditioners. You can save hundreds on new installation for equipment from a leading brand such as Lennox. Just talk to your local utility companies to learn which makes and models are entitled. Additionally, you can easily combine 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 AC system
Potential 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 optimize the daily schedule. Utility companies appreciate this kind 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 offer programs where they provide discounted rates for the ability to control your thermostat during peak energy use. This helps avoid strain on the grid, especially when heat waves or cold fronts show up. When enrolled in this program, your thermostat will automatically be corrected by a few degrees.
More 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 reactivated a program in 2021 that offered 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 wider variety of projects, such as 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 included 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 producing it by burning fuel. To motivate more people to change to this energy-efficient comfort system, these rebates are considerably higher compared to incentives for AC units and furnaces.
If your household’s income is below 80% of the local median, you are able to use the rebates to cover 100% of the costs of a new heat pump. Households making 80-150% of the average income can cover 50% of equipment and installation costs.