A quality HVAC system is essential for a comfortable and energy-efficient home, but it’s also a big investment. Every homeowner deserves the most productive comfort solutions achievable, which is why HVAC rebates are so worthwhile. They can help guarantee high-efficiency furnaces, air conditioners and other equipment is more affordable.
HVAC efficiency standards are climbing 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 acquire a new, high-efficiency HVAC system.
Rebates for High-Efficiency Furnaces
Lots of manufacturers of high-efficiency furnaces extend rebates toward the cost of a new system. These furnaces include energy-efficient components like variable-speed blower motors, which let the thermostat refine how much heating is produced. It’s a great way to lower energy use overall. Local utilities also provide 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 submit your ZIP Code to learn which rebates you might be approved for. Equipment displaying the ENERGY STAR® rating means it meets your region’s standards for energy-efficient performance.
Earning a Rebate for a High Efficiency Air Conditioner
Plenty of of the same rebates for high-efficiency furnaces are also useful for air conditioners. You can save hundreds on new installation for efficient cooling from a top brand such as Lennox. Just check with your local utility companies to learn which makes and models are eligible. What’s more, you can often bundle federal and local rebates for even more savings. Don’t hesitate to learn what's out there, because it can quickly add up to 10% of a new, high-efficiency air conditioner
2023's Rebates for Smart Home Accessories Like Smart Thermostats
A smart thermostat is a particularly valuable addition to your home comfort system. With intelligent programming, you can fine-tune the daily schedule. Utility companies can benefit from this level of efficiency, and so most offer rebate programs for new smart thermostats. In time, these rebates virtually enable you to get a free smart thermostat!
Local utility companies also create programs where they exchange discounted rates for the capability to control your thermostat during peak energy use. This helps reduce strain on the grid, especially when heat waves or cold fronts come through. When participating in this program, your thermostat can automatically be corrected by a few degrees.
Other Ways to Save: High Efficiency Products and Home Improvement Credits
Somewhat different than 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 new 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 wider variety of projects, such as 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 contained 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 igniting fuel. To encourage more people to change to this energy-efficient comfort system, these rebates are substantially higher than incentives for AC units and furnaces.
If a 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 pay for 50% of equipment and installation costs.