A dependable HVAC system is essential for a comfortable and energy-efficient home, but it’s also a major investment. You deserve the most productive comfort solutions achievable, 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 climbing next year, so now’s an excellent time to explore your options. A variety of companies, organizations and even government entities are promoting rebates in 2023 to help everyone acquire a new, high-efficiency HVAC system.
Receive a Tax Rebate by Installing a High Efficiency Furnace
Many manufacturers of high-efficiency furnaces provide rebates for a new system. These furnaces incorporate energy-efficient components like variable-speed blower motors, which enable the thermostat to refine how much heating is released. It’s a great way to lower energy use overall. Local utilities also provide furnace rebates since 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 find out which rebates you could be approved for. Equipment featuring the ENERGY STAR® rating means it satisfies your region’s standards for energy-efficient comfort.
Rebates for Air Conditioning Systems
A lot 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 such as Lennox. Just check with your local utility companies to find out which makes and models are suitable. What’s more, you can usually bundle federal and local rebates for even more savings. Don’t hesitate to learn what's out there, because it can easily add up to 10% of a new, high-efficiency air conditioner
Available Rebates for Smart Home Accessories Like Smart Thermostats
A smart thermostat is an incredibly 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 extend rebate programs for new smart thermostats. In time, these rebates virtually allow you to get a free smart thermostat!
Local utility companies also offer programs where they swap lower rates for the capability to access your thermostat during peak energy use. This helps avoid strain on the grid, namely when heat waves or cold fronts arrive. When registered in this program, your thermostat may automatically be changed by a few degrees.
Additional Incentives: High Efficiency Products and Home Improvement Credits
A little different from rebates, tax credits are also offered for the purchase and installation of energy-efficient HVAC equipment. For example, the Inflation Reduction Act reactivated a program in 2021 that provided 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 as opposed to only once. These credits are available for a much larger variety of projects, including home energy audits, electrical, insulation, ventilation, and even your doors and windows! The programs are designed 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 included separate legislation called the High-Efficiency Electric Homes and Rebates Act, or HEEHRA. This incentive is particularly targeted toward heat pump technology, which transfers heat instead of generating it by burning fuel. To persuade more people to change to this energy-efficient comfort system, these rebates are substantially higher than incentives for AC units and furnaces.
If your 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.
