A well-designed 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 achievable, 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 excellent time to check out your options. A variety of companies, organizations and even government entities are extending rebates in 2023 to help everyone procure a new, high-efficiency HVAC system.
Receive a Tax Rebate by Installing a High Efficiency Furnace
Lots of manufacturers of high-efficiency furnaces extend rebates toward the cost of a new system. These furnaces feature energy-efficient components like variable-speed blower motors, which let the thermostat refine how much heating is released. It’s an easy way to lower energy use overall. Local utilities also share furnace rebates because less energy use translates to 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 find out which rebates you could be approved for. Equipment with the ENERGY STAR® rating means it fulfills your region’s standards for energy-efficient operation.
Earning a Rebate for a High Efficiency Air Conditioner
Plenty of 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 consult your local utility companies to verify which makes and models are suitable. Additionally, you can easily bundle federal and local rebates for even more savings. Don’t hesitate to learn what's out there, because it can quickly add up to 10% of a new, high-efficiency AC system
Available Rebates for Smart Thermostats
A smart thermostat is a particularly valuable improvement to your home comfort system. With intelligent programming, you can optimize the daily schedule. Utility companies highly value this level of efficiency, and so most offer rebate programs for new smart thermostats. In time, these rebates virtually enable you to get a free smart thermostat!
These utility companies also create programs where they provide lower rates for the capacity to access your thermostat during peak energy use. This helps avoid strain on the grid, especially when heat waves or cold fronts show up. When participating in this program, your thermostat will automatically be adjusted by a few degrees.
Other Cost-Saving Options: High Efficiency Products and Home Improvement Credits
Slightly different than rebates, tax credits are also promoted for the purchase and installation of energy-efficient HVAC equipment. 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 may be claimed every year rather than only once. These credits are eligible for a much wider 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 across the country.
New Legislation for Heat Pump Rebates
The recently passed Inflation Reduction Act incorporated separate legislation called the High-Efficiency Electric Homes and Rebates Act, or HEEHRA. This incentive is specially geared toward heat pump technology, which transfers heat instead of producing it by igniting fuel. To persuade more people to change to this energy-efficient comfort system, these rebates are significantly higher versus incentives for AC systems and furnaces.
If your household’s income is lower than 80% of the local median, you can 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.