A dependable HVAC system is vital for a comfortable and energy-efficient home, but it’s also a major investment. Everyone deserves the most efficient comfort solutions available, which is why HVAC rebates are so beneficial. They can help guarantee high-efficiency furnaces, air conditioners and other equipment is more affordable.
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 secure a new, high-efficiency HVAC system.
Receive a Tax Rebate by Installing a High Efficiency Furnace
Many manufacturers of high-efficiency furnaces provide rebates toward the cost of a new system. These furnaces incorporate energy-efficient components such as variable-speed blower motors, which enable the thermostat to optimize how much heating is generated. It’s a fantastic way to decrease energy use overall. Local utilities also offer furnace rebates since 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 submit your ZIP Code to find out which rebates you may be qualified for. Equipment featuring the ENERGY STAR® rating means it meets your region’s standards for energy-efficient comfort.
Earning a Rebate for a High Efficiency Air Conditioner
Many of the same rebates for high-efficiency furnaces are also applicable to air conditioners. You can save hundreds on new installation for efficient cooling from a leading brand like Lennox. Just talk to your local utility companies to verify 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 air conditioner
Available Rebates for Smart Home Accessories Like Smart Thermostats
A smart thermostat is an especially valuable improvement 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 provide rebate programs for new smart thermostats. After some time, these rebates essentially enable you to get a free smart thermostat!
Local utility companies also provide programs where they provide lower rates for the capability to control your thermostat during peak energy use. This helps avoid strain on the grid, particularly when heat waves or cold fronts arrive. When participating in this program, your thermostat can automatically be changed by a few degrees.
Other Incentives: Tax Credits for Energy-Efficient Equipment and Home Improvement Projects
Slightly different than rebates, tax credits are also promoted 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 new credits are now worth 30% of the cost and may be claimed each year as opposed to only once. These credits are available for a much larger variety of projects, like 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 included 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 producing it by burning fuel. To persuade more people to change to this energy-efficient comfort system, these rebates are considerably higher compared to incentives for AC units 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 that meet 80-150% of the median income can cover 50% of equipment and installation costs.