A dependable HVAC system is vital for a comfortable and energy-efficient home, but it’s also a significant investment. You deserve the most productive comfort solutions possible, which is why HVAC rebates are so worthwhile. They can help guarantee high-efficiency furnaces, air conditioners and other equipment is more budget friendly.
HVAC efficiency standards are climbing next year, so now’s an ideal time to explore your options. Various companies, organizations and even government entities are extending rebates in 2023 to help everyone procure 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 include energy-efficient components like variable-speed blower motors, which enable the thermostat to refine how much heating is released. It’s a fantastic way to reduce energy use overall. Local utilities also offer furnace rebates as less energy use translates to less strain on the local energy grid.
The government’s ENERGY STAR® program is also useful for acquiring a furnace rebate. You can type in your ZIP Code to find out which rebates you could be eligible for. Equipment featuring the ENERGY STAR® rating means it meets your region’s standards for energy-efficient operation.
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 equipment from a leading brand like Lennox. Just consult your local utility companies to verify which makes and models are entitled. Additionally, you can usually combine federal and local rebates for even greater savings. Don’t hesitate to learn what's out there, because it can quickly add up to 10% of a new, high-efficiency cooling system
Potential Rebates for Smart Thermostats
A smart thermostat is an incredibly valuable upgrade to your home comfort system. With intelligent programming, you can optimize the daily schedule. Utility companies appreciate this degree of efficiency, and so most provide rebate programs for new smart thermostats. After some time, these rebates virtually permit you to get a free smart thermostat!
Your utility companies also offer programs where they swap discounted rates for the capacity to access your thermostat during peak energy use. This helps minimize strain on the grid, namely when heat waves or cold fronts show up. When enrolled in this program, your thermostat may automatically be adjusted by a few degrees.
Additional Ways to Save: High Efficiency Products and Home Improvement Credits
Slightly different compared to rebates, tax credits are also promoted for the purchase and installation of energy-efficient HVAC equipment. For example, the Inflation Reduction Act restarted a program in 2021 that supplied credits for up to 10% of the project’s cost. The updated credits are now worth 30% of the cost and may be claimed every year rather than 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 fashioned to provide 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 incorporated separate legislation known as the High-Efficiency Electric Homes and Rebates Act, or HEEHRA. This incentive is particularly aimed toward heat pump technology, which transfers heat instead of generating it by burning fuel. To motivate more people to transition to this energy-efficient comfort system, these rebates are substantially higher than incentives for AC units and furnaces.
If a household’s income is below 80% of the local median, you are able to use the rebates to cover 100% of the costs of a new heat pump. Households that meet 80-150% of the typical income can take care of 50% of equipment and installation costs.