A quality HVAC system is vital for a comfortable and energy-efficient home, but it’s also a big investment. You deserve the most productive comfort solutions possible, which is why HVAC rebates are so worthwhile. 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 a great time to explore your options. Different companies, organizations and even government entities are extending rebates in 2023 to help everyone acquire 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 such as variable-speed blower motors, which let the thermostat optimize how much heating is released. It’s a great way to decrease energy use overall. Local utilities also provide furnace rebates since less energy use translates to less strain on the local energy grid.
The government’s ENERGY STAR® program is also recommended for securing a furnace rebate. You can enter your ZIP Code to find out which rebates you may be approved for. Equipment displaying the ENERGY STAR® rating means it fulfills your region’s standards for energy-efficient operation.
Rebates for Air Conditioning Systems
Plenty of of the same rebates for high-efficiency furnaces are also suitable for air conditioners. You can save hundreds on new installation for equipment from a top brand such as Lennox. Just talk to your local utility companies to learn which makes and models are entitled. In addition, you can often bundle federal and local rebates for even greater savings. Don’t hesitate to learn what's out there, because it can quickly add up to 10% of a new, high-efficiency cooling system
Potential Rebates for Smart Thermostats
A smart thermostat is an incredibly valuable improvement to your home comfort system. With intelligent programming, you can optimize the daily schedule. Utility companies appreciate this level of efficiency, and so most extend rebate programs for new smart thermostats. After some time, these rebates virtually enable you to get a free smart thermostat!
Your utility companies also create programs where they provide lower rates for the capacity to access your thermostat during peak energy use. This helps minimize strain on the grid, especially when heat waves or cold fronts show up. When registered in this program, your thermostat may automatically be adjusted by a few degrees.
Other 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 updated credits are now worth 30% of the cost and may be claimed each year as opposed to only once. These credits are eligible for a much wider variety of projects, such as home energy audits, electrical, insulation, ventilation, and even your doors and windows! The programs are tailored 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 contained separate legislation called the High-Efficiency Electric Homes and Rebates Act, or HEEHRA. This incentive is especially targeted toward heat pump technology, which transfers heat instead of producing it by combusting fuel. To encourage more people to change to this energy-efficient comfort system, these rebates are significantly higher versus 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 meeting 80-150% of the median income can take care of 50% of equipment and installation costs.
