A quality HVAC system is crucial for a comfortable and energy-efficient home, but it’s also a big investment. You deserve the most efficient comfort solutions available, which is why HVAC rebates are so important. They can help ensure high-efficiency furnaces, air conditioners and other equipment is more affordable.
HVAC efficiency standards are going up next year, so now’s an excellent time to check out your options. Various companies, organizations and even government entities are promoting rebates in 2023 to help everyone acquire 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 allow the thermostat to refine how much heating is released. It’s a great way to reduce energy use overall. Local utilities also provide furnace rebates as less energy use results in less strain on the local energy grid.
The government’s ENERGY STAR® program is also useful for acquiring a furnace rebate. You can submit your ZIP Code to see which rebates you could be approved for. Equipment displaying the ENERGY STAR® rating means it meets your region’s standards for energy-efficient comfort.
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 leading brand such as Lennox. Just consult your local utility companies to find out which makes and models are entitled. What’s more, you can usually bundle federal and local rebates for even more savings. Don’t hesitate to see what all you can find, 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 fine-tune the daily schedule. Utility companies appreciate this degree of efficiency, and so most extend rebate programs for new smart thermostats. Over time, these rebates essentially permit you to get a free smart thermostat!
Your utility companies also offer programs where they provide discounted rates for the ability to access your thermostat during peak energy use. This helps minimize strain on the grid, especially when heat waves or cold fronts come through. When enrolled in this program, your thermostat will automatically be adjusted by a few degrees.
More Cost-Saving Options: Tax Credits for Energy-Efficient Equipment and Home Improvement Projects
Somewhat different from 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 new credits are now worth 30% of the cost and may be claimed each year rather than only once. These credits are available for a much greater variety of projects, like home energy audits, electrical, insulation, ventilation, and even your doors and windows! The programs are fashioned 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 incorporated separate legislation known as the High-Efficiency Electric Homes and Rebates Act, or HEEHRA. This incentive is especially geared 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 than incentives for AC units and furnaces.
If the household’s income is lower than 80% of the local median, you can 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.
