A well-designed HVAC system is crucial for a comfortable and energy-efficient home, but it’s also a big investment. Everyone deserves 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 increasing next year, so now’s an excellent time to explore your options. Different companies, organizations and even government entities are promoting rebates in 2023 to help everyone acquire a new, high-efficiency HVAC system.
Furnace Rebates Require High Efficiency Models
Many manufacturers of high-efficiency furnaces offer 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 generated. It’s a great way to lower energy use overall. Local utilities also offer furnace rebates because less energy use means less strain on the local energy grid.
The government’s ENERGY STAR® program is also helpful for acquiring a furnace rebate. You can type in your ZIP Code to learn which rebates you might be qualified for. Equipment with the ENERGY STAR® rating means it satisfies your region’s standards for energy-efficient performance.
Rebates for Air Conditioning Systems
Many 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 talk to your local utility companies to verify which makes and models are suitable. What’s more, you can usually combine 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 AC system
Potential Rebates for Smart Home Accessories Like Smart Thermostats
A smart thermostat is a particularly valuable upgrade to your home comfort system. With intelligent programming, you can fine-tune 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 essentially permit you to get a free smart thermostat!
Your utility companies also offer programs where they swap reduced rates for the capability to adjust your thermostat during peak energy use. This helps reduce strain on the grid, particularly when heat waves or cold fronts come through. When participating in this program, your thermostat can automatically be corrected by a few degrees.
More Cost-Saving Options: High Efficiency Products and Home Improvement Credits
A little different from rebates, tax credits are also available for the purchase and installation of energy-efficient HVAC systems. 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 every year instead of only once. These credits are obtainable for a much larger variety of projects, such as home energy audits, electrical, insulation, ventilation, and even your doors and windows! The programs are fashioned 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 included separate legislation known as the High-Efficiency Electric Homes and Rebates Act, or HEEHRA. This incentive is specially geared toward heat pump technology, which transfers heat instead of creating it by burning fuel. To encourage more people to transition to this energy-efficient comfort system, these rebates are considerably higher compared to incentives for AC systems and furnaces.
If your 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 meeting 80-150% of the typical income can pay for 50% of equipment and installation costs.
