A well-designed HVAC system is vital for a comfortable and energy-efficient home, but it’s also a big investment. Every homeowner deserves 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 going up next year, so now’s an excellent time to explore your options. Various companies, organizations and even government entities are extending rebates in 2023 to help everyone acquire a new, high-efficiency HVAC system.
Rebates for High-Efficiency Furnaces
Numerous manufacturers of high-efficiency furnaces offer rebates for a new system. These furnaces include energy-efficient components such as variable-speed blower motors, which allow the thermostat to fine-tune how much heating is generated. It’s an easy way to decrease energy use overall. Local utilities also share furnace rebates as 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 submit your ZIP Code to find out which rebates you may be eligible for. Equipment featuring the ENERGY STAR® rating means it meets your region’s standards for energy-efficient comfort.
Air Conditioner Rebates
Many 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 leading brand such as Lennox. Just consult your local utility companies to learn which makes and models are eligible. In addition, you can easily join federal and local rebates for even greater savings. Don’t hesitate to see what all you can find, because it can quickly add up to 10% of a new, high-efficiency AC system
Obtainable Rebates for Smart Thermostats
A smart thermostat is a particularly valuable upgrade to your home comfort system. With intelligent programming, you can enhance the daily schedule. Utility companies appreciate this degree of efficiency, and so most extend rebate programs for new smart thermostats. In time, these rebates essentially enable you to get a free smart thermostat!
Your utility companies also provide programs where they exchange reduced rates for the capacity to adjust your thermostat during peak energy use. This helps minimize strain on the grid, namely when heat waves or cold fronts show up. When registered in this program, your thermostat will automatically be changed by a few degrees.
Additional Ways to Save: Tax Credits for Energy-Efficient Equipment and Home Improvement Projects
Slightly different from 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 supplied 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 as opposed to only once. These credits are eligible 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 called the High-Efficiency Electric Homes and Rebates Act, or HEEHRA. This incentive is particularly geared toward heat pump technology, which transfers heat instead of producing it by burning fuel. To persuade more people to convert to this energy-efficient comfort system, these rebates are substantially higher versus incentives for AC units and furnaces.
If the 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 making 80-150% of the median income can cover 50% of equipment and installation costs.