A quality HVAC system is vital for a comfortable and energy-efficient home, but it’s also a significant investment. Everyone deserves the most effective comfort solutions available, which is why HVAC rebates are so worthwhile. They can help make sure high-efficiency furnaces, air conditioners and other equipment is more budget friendly.
HVAC efficiency standards are increasing next year, so now’s an excellent time to compare 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.
Receive a Tax Rebate by Installing a High Efficiency Furnace
Lots of manufacturers of high-efficiency furnaces offer rebates toward buying a new system. These furnaces incorporate energy-efficient components like variable-speed blower motors, which allow the thermostat to refine how much heating is produced. It’s an easy way to reduce energy use overall. Local utilities also offer 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 obtaining a furnace rebate. You can enter your ZIP Code to find out which rebates you might be qualified for. Equipment with 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 efficient cooling from a leading brand like Lennox. Just talk to your local utility companies to verify which makes and models are suitable. Additionally, you can often bundle federal and local rebates for even more savings. Don’t hesitate to see what all you can find, because it can easily add up to 10% of a new, high-efficiency AC system
2023's Rebates for Smart Home Accessories Like Smart Thermostats
A smart thermostat is an incredibly valuable upgrade to your home comfort system. With intelligent programming, you can enhance the daily schedule. Utility companies can benefit from this degree of efficiency, and so most extend rebate programs for new smart thermostats. After some time, these rebates effectively permit you to get a free smart thermostat!
These utility companies also offer programs where they swap discounted rates for the ability to control your thermostat during peak energy use. This helps reduce strain on the grid, particularly when heat waves or cold fronts show up. When enrolled in this program, your thermostat will automatically be adjusted by a few degrees.
Other Ways to Save: High Efficiency Products and Home Improvement Credits
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 restarted 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 rather than only once. These credits are eligible for a much greater variety of projects, such as home energy audits, electrical, insulation, ventilation, and even your doors and windows! The programs are fashioned 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 included separate legislation known as the High-Efficiency Electric Homes and Rebates Act, or HEEHRA. This incentive is especially aimed toward heat pump technology, which transfers heat instead of creating it by combusting fuel. To motivate more people to transition to this energy-efficient comfort system, these rebates are substantially higher compared to incentives for AC systems and furnaces.
If the 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 average income can take care of 50% of equipment and installation costs.