A dependable HVAC system is essential for a comfortable and energy-efficient home, but it’s also a major investment. You deserve the most effective 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 an ideal time to check out your options. Different companies, organizations and even government entities are offering rebates in 2023 to help everyone acquire a new, high-efficiency HVAC system.
Receive a Tax Rebate by Installing a High Efficiency Furnace
Lots of manufacturers of high-efficiency furnaces provide rebates toward the cost of a new system. These furnaces include energy-efficient components like variable-speed blower motors, which allow the thermostat to refine how much heating is released. It’s an easy way to reduce energy use overall. Local utilities also share 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 obtaining a furnace rebate. You can type in your ZIP Code to see which rebates you might be qualified for. Equipment featuring the ENERGY STAR® rating means it fulfills your region’s standards for energy-efficient operation.
Earning a Rebate for a High Efficiency Air Conditioner
Many of the same rebates for high-efficiency furnaces are also useful for air conditioners. You can save hundreds on new installation for a system from a leading brand like Lennox. Just check with your local utility companies to learn which makes and models are entitled. What’s more, you can usually combine 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 air conditioner
Available Rebates for Smart Thermostats
A smart thermostat is an incredibly valuable improvement 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 provide rebate programs for new smart thermostats. After some time, these rebates virtually allow you to get a free smart thermostat!
Your utility companies also offer programs where they provide reduced rates for the ability to adjust your thermostat during peak energy use. This helps reduce strain on the grid, particularly when heat waves or cold fronts arrive. 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
A little different than 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 supplied credits for up to 10% of the project’s cost. The revised credits are now worth 30% of the cost and can be claimed every year instead of only once. These credits are obtainable for a much wider variety of projects, like 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 nationwide.
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 specially geared toward heat pump technology, which transfers heat instead of creating it by burning fuel. To persuade more people to change to this energy-efficient comfort system, these rebates are substantially higher versus incentives for AC systems and furnaces.
If a household’s income is below 80% of the local median, you can use the rebates to cover 100% of the costs of a new heat pump. Households meeting 80-150% of the median income can cover 50% of equipment and installation costs.