A dependable HVAC system is crucial for a comfortable and energy-efficient home, but it’s also a big investment. Everyone deserves the most productive comfort solutions possible, which is why HVAC rebates are so important. 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 a great time to explore your options. Different companies, organizations and even government entities are extending rebates in 2023 to help everyone secure a new, high-efficiency HVAC system.
Receive a Tax Rebate by Installing a High Efficiency Furnace
Numerous manufacturers of high-efficiency furnaces extend rebates toward the cost of a new system. These furnaces include energy-efficient components such as variable-speed blower motors, which enable the thermostat to fine-tune how much heating is generated. It’s a fantastic way to lower 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 recommended for securing a furnace rebate. You can submit your ZIP Code to find out which rebates you might be eligible for. Equipment with the ENERGY STAR® rating means it fulfills your region’s standards for energy-efficient comfort.
Air Conditioner Rebates
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 equipment from a top brand such as Lennox. Just consult your local utility companies to learn which makes and models are eligible. Additionally, you can often join federal and local rebates for even higher 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
Available Rebates for Smart Thermostats
A smart thermostat is an especially valuable addition to your home comfort system. With intelligent programming, you can optimize the daily schedule. Utility companies can benefit from this level of efficiency, and so most extend rebate programs for new smart thermostats. After some time, these rebates effectively enable you to get a free smart thermostat!
These utility companies also offer programs where they swap reduced rates for the ability to control your thermostat during peak energy use. This helps reduce strain on the grid, especially when heat waves or cold fronts show up. When registered in this program, your thermostat will automatically be corrected by a few degrees.
Additional Ways to Save: High Efficiency Products and Home Improvement Credits
A little different than rebates, tax credits are also promoted 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 revised credits are now worth 30% of the cost and may be claimed every year instead of 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 tailored 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 incorporated separate legislation called 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 burning fuel. To encourage more people to change to this energy-efficient comfort system, these rebates are considerably higher versus incentives for AC systems and furnaces.
If your household’s income is lower than 80% of the local median, you can 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.