A quality HVAC system is essential for a comfortable and energy-efficient home, but it’s also a big investment. Everyone deserves the most efficient comfort solutions available, which is why HVAC rebates are so beneficial. They can help guarantee 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. Different companies, organizations and even government entities are offering rebates in 2023 to help everyone secure a new, high-efficiency HVAC system.
Rebates for High-Efficiency Furnaces
Many manufacturers of high-efficiency furnaces offer rebates for a new system. These furnaces feature energy-efficient components such as variable-speed blower motors, which let the thermostat refine how much heating is released. It’s a great 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 useful for securing a furnace rebate. You can type in your ZIP Code to find out which rebates you could be eligible for. Equipment displaying the ENERGY STAR® rating means it fulfills your region’s standards for energy-efficient performance.
Air Conditioner Rebates
Many of the same rebates for high-efficiency furnaces are also suitable for 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. Additionally, 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 cooling system.
Potential 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 offer rebate programs for new smart thermostats. Over time, these rebates effectively permit you to get a free smart thermostat!
Your utility companies also offer programs where they provide reduced rates for the capability to adjust your thermostat during peak energy use. This helps avoid strain on the grid, especially when heat waves or cold fronts arrive. When registered in this program, your thermostat can automatically be corrected by a few degrees.
Other Ways to Save: Tax Credits for Energy-Efficient Equipment and Home Improvement Projects
Somewhat different from rebates, tax credits are also available for the purchase and installation of energy-efficient HVAC systems. For example, the Inflation Reduction Act reactivated a program in 2021 that offered 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 available for a much larger variety of projects, such as home energy audits, electrical, insulation, ventilation, and even your doors and windows! The programs are designed to share 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 incorporated separate legislation referred to as the High-Efficiency Electric Homes and Rebates Act, or HEEHRA. This incentive is especially targeted toward heat pump technology, which transfers heat instead of generating it by burning fuel. To motivate more people to change to this energy-efficient comfort system, these rebates are considerably higher than incentives for AC units and furnaces.
If a household’s income is lower 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 typical income can cover 50% of equipment and installation costs.