A dependable HVAC system is vital for a comfortable and energy-efficient home, but it’s also a significant investment. You deserve the most productive comfort solutions available, 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 increasing next year, so now’s an excellent time to check out your options. Various 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
Numerous manufacturers of high-efficiency furnaces provide rebates toward buying a new system. These furnaces incorporate energy-efficient components like variable-speed blower motors, which allow the thermostat to fine-tune how much heating is produced. It’s a great way to lower energy use overall. Local utilities also offer furnace rebates as less energy use translates to less strain on the local energy grid.
The government’s ENERGY STAR® program is also recommended for securing a furnace rebate. You can submit your ZIP Code to find out which rebates you might be approved for. Equipment with the ENERGY STAR® rating means it satisfies 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 useful for air conditioners. You can save hundreds on new installation for equipment from a top brand such as Lennox. Just talk to your local utility companies to verify which makes and models are eligible. In addition, you can often combine federal and local rebates for even greater savings. Don’t hesitate to find out what's all available, 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 especially valuable addition to your home comfort system. With intelligent programming, you can enhance the daily schedule. Utility companies can benefit from this kind of efficiency, and so most extend rebate programs for new smart thermostats. After some time, these rebates virtually permit you to get a free smart thermostat!
These utility companies also offer programs where they provide lower rates for the capacity to access your thermostat during peak energy use. This helps reduce strain on the grid, especially when heat waves or cold fronts arrive. When enrolled in this program, your thermostat can automatically be corrected by a few degrees.
Other Ways to Save: Tax Credits for Energy-Efficient Equipment and Home Improvement Projects
Slightly different than rebates, tax credits are also promoted for the purchase and installation of energy-efficient HVAC systems. For example, the Inflation Reduction Act restarted 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 every year as opposed to only once. These credits are available for a much larger variety of projects, including home energy audits, electrical, insulation, ventilation, and even your doors and windows! The programs are tailored 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 referred to as the High-Efficiency Electric Homes and Rebates Act, or HEEHRA. This incentive is specially geared toward heat pump technology, which transfers heat instead of creating it by igniting fuel. To encourage more people to convert to this energy-efficient comfort system, these rebates are considerably higher than incentives for AC units and furnaces.
If your household’s income is below 80% of the local median, you could use the rebates to cover 100% of the costs of a new heat pump. Households making 80-150% of the average income can pay for 50% of equipment and installation costs.
