A well-designed HVAC system is essential for a comfortable and energy-efficient home, but it’s also a significant investment. Everyone deserves the most productive comfort solutions possible, which is why HVAC rebates are so important. They can help ensure high-efficiency furnaces, air conditioners and other equipment is more budget friendly.
HVAC efficiency standards are increasing next year, so now’s an ideal time to explore your options. A variety of companies, organizations and even government entities are promoting rebates in 2023 to help everyone procure a new, high-efficiency HVAC system.
Rebates for High-Efficiency Furnaces
Lots of manufacturers of high-efficiency furnaces provide rebates toward the cost of a new system. These furnaces include energy-efficient components like variable-speed blower motors, which enable the thermostat to fine-tune how much heating is generated. It’s a fantastic way to lower energy use overall. Local utilities also offer furnace rebates because less energy use translates to less strain on the local energy grid.
The government’s ENERGY STAR® program is also recommended for acquiring a furnace rebate. You can enter your ZIP Code to learn which rebates you might be approved for. Equipment featuring the ENERGY STAR® rating means it meets your region’s standards for energy-efficient comfort.
Air Conditioner Rebates
Plenty of of the same rebates for high-efficiency furnaces are also applicable to air conditioners. You can save hundreds on new installation for a system from a top brand like Lennox. Just check with your local utility companies to learn which makes and models are entitled. What’s more, you can often join federal and local rebates for even greater savings. Don’t hesitate to find out what's all available, because it can easily add up to 10% of a new, high-efficiency air conditioner.
Obtainable Rebates for 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 appreciate this degree of efficiency, and so most provide rebate programs for new smart thermostats. After some time, these rebates virtually allow you to get a free smart thermostat!
These utility companies also provide programs where they exchange reduced rates for the capability to adjust your thermostat during peak energy use. This helps reduce strain on the grid, namely when heat waves or cold fronts arrive. When enrolled in this program, your thermostat may automatically be adjusted by a few degrees.
Additional Ways to Save: Tax Credits for Energy-Efficient Equipment and Home Improvement Projects
A little different compared to 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 updated credits are now worth 30% of the cost and can be claimed each year instead of only once. These credits are available for a much wider variety of projects, like home energy audits, electrical, insulation, ventilation, and even your doors and windows! The programs are designed 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 contained separate legislation referred to 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 combusting fuel. To encourage more people to transition to this energy-efficient comfort system, these rebates are substantially higher versus incentives for AC systems and furnaces.
If a household’s income is less 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 meeting 80-150% of the average income can take care of 50% of equipment and installation costs.