A well-designed HVAC system is vital for a comfortable and energy-efficient home, but it’s also a significant investment. You deserve the most effective comfort solutions possible, which is why HVAC rebates are so important. They can help ensure high-efficiency furnaces, air conditioners and other equipment is more budget friendly.
HVAC efficiency standards are climbing next year, so now’s an ideal time to explore 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.
Rebates for High-Efficiency Furnaces
Lots of manufacturers of high-efficiency furnaces offer rebates for a new system. These furnaces include energy-efficient components like variable-speed blower motors, which allow the thermostat to optimize how much heating is generated. It’s an easy way to decrease energy use overall. Local utilities also share furnace rebates since less energy use means less strain on the local energy grid.
The government’s ENERGY STAR® program is also recommended for securing a furnace rebate. You can type in your ZIP Code to see which rebates you might be approved 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 useful for air conditioners. You can save hundreds on new installation for efficient cooling from a leading brand such as Lennox. Just consult your local utility companies to find out which makes and models are entitled. Additionally, you can often combine federal and local rebates for even higher savings. Don’t hesitate to see what all you can find, because it can easily add up to 10% of a new, high-efficiency cooling system
Potential Rebates for Smart Thermostats
A smart thermostat is an incredibly valuable addition to your home comfort system. With intelligent programming, you can fine-tune the daily schedule. Utility companies can benefit from this degree of efficiency, and so most offer rebate programs for new smart thermostats. After some time, these rebates essentially enable you to get a free smart thermostat!
Local utility companies also create programs where they exchange lower rates for the ability to control your thermostat during peak energy use. This helps avoid strain on the grid, particularly when heat waves or cold fronts come through. When participating in this program, your thermostat can automatically be adjusted by a few degrees.
Additional Ways to Save: 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 equipment. For example, the Inflation Reduction Act reactivated a program in 2021 that offered 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 obtainable for a much larger variety of projects, including home energy audits, electrical, insulation, ventilation, and even your doors and windows! The programs are designed to provide 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 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 creating it by combusting fuel. To encourage more people to change to this energy-efficient comfort system, these rebates are considerably higher versus incentives for AC systems and furnaces.
If the 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 making 80-150% of the median income can pay for 50% of equipment and installation costs.