A quality HVAC system is crucial for a comfortable and energy-efficient home, but it’s also a big investment. Every homeowner deserves the most efficient comfort solutions possible, which is why HVAC rebates are so worthwhile. 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 excellent time to explore 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
Numerous manufacturers of high-efficiency furnaces offer rebates toward the cost of a new system. These furnaces feature energy-efficient components like variable-speed blower motors, which allow the thermostat to optimize how much heating is generated. It’s a great way to lower energy use overall. Local utilities also offer 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 acquiring a furnace rebate. You can submit your ZIP Code to learn which rebates you could be qualified for. Equipment displaying the ENERGY STAR® rating means it fulfills your region’s standards for energy-efficient comfort.
Air Conditioner Rebates
Many of the same rebates for high-efficiency furnaces are also useful for air conditioners. You can save hundreds on new installation for equipment from a leading brand like Lennox. Just check with your local utility companies to find out which makes and models are suitable. What’s more, 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 cooling system.
Available Rebates for Smart Thermostats
A smart thermostat is an especially valuable upgrade to your home comfort system. With intelligent programming, you can fine-tune the daily schedule. Utility companies highly value this degree of efficiency, and so most offer rebate programs for new smart thermostats. In time, these rebates effectively allow you to get a free smart thermostat!
These utility companies also create programs where they swap lower rates for the capability to adjust your thermostat during peak energy use. This helps minimize strain on the grid, namely when heat waves or cold fronts come through. When registered in this program, your thermostat can automatically be changed by a few degrees.
Other Ways to Save: Tax Credits for Energy-Efficient Equipment and Home Improvement Projects
Somewhat different from rebates, tax credits are also offered for the purchase and installation of energy-efficient HVAC systems. For example, the Inflation Reduction Act restarted a program in 2021 that offered 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 rather than 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 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 referred to as 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 combusting fuel. To persuade more people to transition to this energy-efficient comfort system, these rebates are considerably higher than incentives for AC units and furnaces.
If the household’s income is lower 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 cover 50% of equipment and installation costs.