A dependable HVAC system is crucial for a comfortable and energy-efficient home, but it’s also a major investment. You deserve the most effective comfort solutions available, which is why HVAC rebates are so important. They can help guarantee high-efficiency furnaces, air conditioners and other equipment is more budget friendly.
HVAC efficiency standards are increasing next year, so now’s an excellent time to compare your options. A variety of 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
Lots of manufacturers of high-efficiency furnaces offer rebates toward the cost of a new system. These furnaces include energy-efficient components like variable-speed blower motors, which allow the thermostat to optimize how much heating is produced. It’s a fantastic way to decrease 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 obtaining a furnace rebate. You can enter your ZIP Code to learn which rebates you may be qualified for. Equipment featuring the ENERGY STAR® rating means it fulfills your region’s standards for energy-efficient operation.
Rebates for Air Conditioning Systems
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 efficient cooling from a leading brand like Lennox. Just talk to your local utility companies to verify which makes and models are eligible. What’s more, you can easily join federal and local rebates for even higher 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 especially valuable upgrade to your home comfort system. With intelligent programming, you can optimize the daily schedule. Utility companies highly value this kind of efficiency, and so most offer rebate programs for new smart thermostats. After some time, these rebates virtually enable you to get a free smart thermostat!
Local utility companies also provide programs where they swap lower rates for the capacity to adjust your thermostat during peak energy use. This helps reduce strain on the grid, especially when heat waves or cold fronts show up. When enrolled in this program, your thermostat will automatically be adjusted by a few degrees.
More 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 restarted 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 may be claimed every year instead of only once. These credits are available for a much larger variety of projects, including 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 known as the High-Efficiency Electric Homes and Rebates Act, or HEEHRA. This incentive is particularly geared toward heat pump technology, which transfers heat instead of producing it by burning fuel. To motivate more people to convert to this energy-efficient comfort system, these rebates are substantially higher versus incentives for AC systems and furnaces.
If your household’s income is less than 80% of the local median, you could use the rebates to cover 100% of the costs of a new heat pump. Households meeting 80-150% of the median income can take care of 50% of equipment and installation costs.
