A quality HVAC system is essential for a comfortable and energy-efficient home, but it’s also a significant investment. Everyone deserves the most efficient comfort solutions possible, which is why HVAC rebates are so worthwhile. They can help ensure high-efficiency furnaces, air conditioners and other equipment is more affordable.
HVAC efficiency standards are climbing next year, so now’s an ideal time to compare your options. Different companies, organizations and even government entities are promoting rebates in 2023 to help everyone secure a new, high-efficiency HVAC system.
Rebates for High-Efficiency Furnaces
Many manufacturers of high-efficiency furnaces provide rebates for a new system. These furnaces incorporate energy-efficient components like variable-speed blower motors, which let the thermostat fine-tune how much heating is released. It’s an easy way to decrease energy use overall. Local utilities also share 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 obtaining a furnace rebate. You can type in your ZIP Code to find out which rebates you may be eligible for. Equipment displaying the ENERGY STAR® rating means it satisfies your region’s standards for energy-efficient operation.
Earning a Rebate for a High Efficiency Air Conditioner
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 consult your local utility companies to find out which makes and models are eligible. In addition, you can often join federal and local rebates for even more savings. Don’t hesitate to find out what's all available, because it can easily add up to 10% of a new, high-efficiency cooling system
Available Rebates for Smart Thermostats
A smart thermostat is an incredibly valuable improvement to your home comfort system. With intelligent programming, you can optimize the daily schedule. Utility companies highly value this degree of efficiency, and so most offer rebate programs for new smart thermostats. Over time, these rebates virtually permit you to get a free smart thermostat!
Local utility companies also provide programs where they provide lower rates for the capability to adjust your thermostat during peak energy use. This helps reduce strain on the grid, especially when heat waves or cold fronts come through. When enrolled in this program, your thermostat will automatically be corrected by a few degrees.
Additional Ways to Save: High Efficiency Products and Home Improvement Credits
Slightly different compared to 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 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 rather than only once. These credits are obtainable for a much greater variety of projects, including 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 nationwide.
New Legislation for Heat Pump Rebates
The recently passed Inflation Reduction Act incorporated separate legislation called the High-Efficiency Electric Homes and Rebates Act, or HEEHRA. This incentive is particularly aimed toward heat pump technology, which transfers heat instead of producing it by burning fuel. To motivate more people to convert to this energy-efficient comfort system, these rebates are substantially higher compared to incentives for AC units and furnaces.
If a 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.