A quality HVAC system is essential for a comfortable and energy-efficient home, but it’s also a significant investment. You deserve the most effective comfort solutions possible, which is why HVAC rebates are so beneficial. They can help ensure high-efficiency furnaces, air conditioners and other equipment is more affordable.
HVAC efficiency standards are climbing next year, so now’s an excellent time to check out your options. Various companies, organizations and even government entities are offering rebates in 2023 to help everyone procure a new, high-efficiency HVAC system.
Receive a Tax Rebate by Installing a High Efficiency Furnace
Numerous manufacturers of high-efficiency furnaces extend rebates toward buying a new system. These furnaces incorporate energy-efficient components like variable-speed blower motors, which allow the thermostat to optimize how much heating is generated. It’s a great way to reduce energy use overall. Local utilities also provide furnace rebates since less energy use results in less strain on the local energy grid.
The government’s ENERGY STAR® program is also helpful for acquiring a furnace rebate. You can enter your ZIP Code to learn which rebates you may be eligible for. Equipment with the ENERGY STAR® rating means it satisfies your region’s standards for energy-efficient comfort.
Rebates for Air Conditioning Systems
Plenty of of the same rebates for high-efficiency furnaces are also applicable to 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 verify which makes and models are suitable. What’s more, you can easily combine federal and local rebates for even more savings. Don’t hesitate to see what all you can find, because it can quickly add up to 10% of a new, high-efficiency air conditioner
2023's Rebates for Smart Home Accessories Like Smart Thermostats
A smart thermostat is a particularly valuable improvement 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 virtually permit you to get a free smart thermostat!
Local utility companies also create programs where they provide discounted rates for the ability to access your thermostat during peak energy use. This helps minimize strain on the grid, namely when heat waves or cold fronts arrive. When participating in this program, your thermostat can automatically be changed by a few degrees.
Other Cost-Saving Options: High Efficiency Products and Home Improvement Credits
Somewhat different than rebates, tax credits are also promoted for the purchase and installation of energy-efficient HVAC systems. For example, the Inflation Reduction Act reactivated a program in 2021 that offered credits for up to 10% of the project’s cost. The new credits are now worth 30% of the cost and can be claimed each year as opposed to only once. These credits are available for a much larger variety of projects, including home energy audits, electrical, insulation, ventilation, and even your doors and windows! The programs are fashioned to share the most benefits for lower-income households, maximizing the improvements to HVAC efficiency across the country.
New Legislation for Heat Pump Rebates
The recently passed Inflation Reduction Act contained separate legislation known as the High-Efficiency Electric Homes and Rebates Act, or HEEHRA. This incentive is specially aimed toward heat pump technology, which transfers heat instead of creating it by burning fuel. To persuade more people to transition to this energy-efficient comfort system, these rebates are significantly higher than incentives for AC units and furnaces.
If your household’s income is lower than 80% of the local median, you are able to use the rebates to cover 100% of the costs of a new heat pump. Households that meet 80-150% of the typical income can pay for 50% of equipment and installation costs.