A well-designed HVAC system is crucial for a comfortable and energy-efficient home, but it’s also a significant investment. You deserve the most productive comfort solutions available, which is why HVAC rebates are so beneficial. They can help make sure high-efficiency furnaces, air conditioners and other equipment is more affordable.
HVAC efficiency standards are going up next year, so now’s an excellent time to compare your options. A variety of companies, organizations and even government entities are offering rebates in 2023 to help everyone procure a new, high-efficiency HVAC system.
Rebates for High-Efficiency Furnaces
Many manufacturers of high-efficiency furnaces provide rebates toward buying a new system. These furnaces include 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 lower energy use overall. Local utilities also share furnace rebates because less energy use means less strain on the local energy grid.
The government’s ENERGY STAR® program is also useful for obtaining a furnace rebate. You can enter your ZIP Code to see which rebates you could be eligible for. Equipment with the ENERGY STAR® rating means it meets your region’s standards for energy-efficient performance.
Rebates for Air Conditioning Systems
Many 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 check with your local utility companies to verify which makes and models are eligible. What’s more, 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 air conditioner
Potential 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 enhance the daily schedule. Utility companies appreciate this kind of efficiency, and so most offer rebate programs for new smart thermostats. Over time, these rebates effectively enable you to get a free smart thermostat!
Your utility companies also provide programs where they exchange discounted rates for the ability to adjust your thermostat during peak energy use. This helps minimize strain on the grid, especially when heat waves or cold fronts arrive. When registered in this program, your thermostat will automatically be adjusted by a few degrees.
Additional Cost-Saving Options: High Efficiency Products and Home Improvement Credits
A little different than rebates, tax credits are also available for the purchase and installation of energy-efficient HVAC systems. For example, the Inflation Reduction Act restarted a program in 2021 that supplied 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 instead of 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 fashioned 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 specially targeted toward heat pump technology, which transfers heat instead of producing it by combusting fuel. To persuade more people to change to this energy-efficient comfort system, these rebates are significantly higher compared to incentives for AC systems and furnaces.
If a household’s income is below 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 typical income can take care of 50% of equipment and installation costs.