A quality HVAC system is crucial for a comfortable and energy-efficient home, but it’s also a major investment. Everyone deserves the most efficient comfort solutions possible, which is why HVAC rebates are so beneficial. They can help guarantee high-efficiency furnaces, air conditioners and other equipment is more budget friendly.
HVAC efficiency standards are increasing next year, so now’s an ideal time to check out your options. A variety of companies, organizations and even government entities are promoting rebates in 2023 to help everyone procure a new, high-efficiency HVAC system.
Furnace Rebates Require High Efficiency Models
Lots of manufacturers of high-efficiency furnaces extend rebates toward buying a new system. These furnaces feature energy-efficient components like variable-speed blower motors, which enable the thermostat to refine how much heating is produced. It’s a fantastic way to lower energy use overall. Local utilities also offer furnace rebates as 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 see which rebates you may be eligible for. Equipment featuring the ENERGY STAR® rating means it fulfills 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 applicable to air conditioners. You can save hundreds on new installation for a system from a top brand like Lennox. Just check with your local utility companies to find out which makes and models are suitable. In addition, you can usually bundle federal and local rebates for even more savings. Don’t hesitate to find out what's all available, because it can quickly add up to 10% of a new, high-efficiency cooling system
2023's Rebates for Smart Thermostats
A smart thermostat is an incredibly valuable upgrade 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 offer rebate programs for new smart thermostats. After some time, these rebates effectively enable you to get a free smart thermostat!
Local utility companies also provide programs where they exchange discounted rates for the ability to adjust your thermostat during peak energy use. This helps avoid strain on the grid, especially when heat waves or cold fronts show up. When enrolled in this program, your thermostat can automatically be corrected by a few degrees.
Additional Cost-Saving Options: Tax Credits for Energy-Efficient Equipment and Home Improvement Projects
Somewhat different from rebates, tax credits are also offered for the purchase and installation of energy-efficient HVAC systems. For example, the Inflation Reduction Act restarted a program in 2021 that provided credits for up to 10% of the project’s cost. The updated credits are now worth 30% of the cost and may be claimed every year instead of only once. These credits are available for a much greater variety of projects, including 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 referred to 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 persuade more people to transition to this energy-efficient comfort system, these rebates are considerably higher compared to incentives for AC units and furnaces.
If your household’s income is less 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 average income can cover 50% of equipment and installation costs.