A dependable 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 budget friendly.
HVAC efficiency standards are climbing next year, so now’s a great time to explore your options. A variety of companies, organizations and even government entities are offering rebates in 2023 to help everyone procure a new, high-efficiency HVAC system.
Rebates for High-Efficiency Furnaces
Many manufacturers of high-efficiency furnaces provide rebates toward buying a new system. These furnaces include energy-efficient components like variable-speed blower motors, which let the thermostat optimize how much heating is released. It’s a fantastic way to reduce energy use overall. Local utilities also provide furnace rebates because 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 submit your ZIP Code to learn which rebates you might be qualified for. Equipment featuring the ENERGY STAR® rating means it meets your region’s standards for energy-efficient comfort.
Air Conditioner Rebates
Many of the same rebates for high-efficiency furnaces are also suitable for air conditioners. You can save hundreds on new installation for efficient cooling from a top brand such as Lennox. Just talk to your local utility companies to learn which makes and models are suitable. In addition, you can usually bundle federal and local rebates for even higher savings. Don’t hesitate to find out what's all available, because it can easily add up to 10% of a new, high-efficiency air conditioner
Obtainable Rebates for 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 highly value this degree of efficiency, and so most provide rebate programs for new smart thermostats. After some time, these rebates virtually allow you to get a free smart thermostat!
Local utility companies also offer programs where they swap reduced rates for the capability to access your thermostat during peak energy use. This helps avoid strain on the grid, especially when heat waves or cold fronts show up. When participating in this program, your thermostat may automatically be adjusted by a few degrees.
More Ways to Save: Tax Credits for Energy-Efficient Equipment and Home Improvement Projects
Somewhat different compared to rebates, tax credits are also available for the purchase and installation of energy-efficient HVAC equipment. For example, the Inflation Reduction Act reactivated a program in 2021 that supplied 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 eligible for a much greater variety of projects, including 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 nationwide.
New Legislation for Heat Pump Rebates
The recently passed Inflation Reduction Act included separate legislation known as the High-Efficiency Electric Homes and Rebates Act, or HEEHRA. This incentive is particularly geared 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 considerably higher compared to incentives for AC units and furnaces.
If the household’s income is less 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 average income can pay for 50% of equipment and installation costs.