A quality HVAC system is vital for a comfortable and energy-efficient home, but it’s also a major investment. Every homeowner deserves the most productive comfort solutions available, which is why HVAC rebates are so beneficial. They can help ensure 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 check out your options. Different companies, organizations and even government entities are promoting 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 extend rebates toward buying a new system. These furnaces include energy-efficient components such as variable-speed blower motors, which enable the thermostat to refine how much heating is produced. It’s an easy way to decrease energy use overall. Local utilities also share furnace rebates since less energy use means less strain on the local energy grid.
The government’s ENERGY STAR® program is also recommended for securing a furnace rebate. You can type in your ZIP Code to find out which rebates you could be eligible for. Equipment displaying the ENERGY STAR® rating means it fulfills your region’s standards for energy-efficient comfort.
Air Conditioner Rebates
A lot of 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 talk to your local utility companies to verify which makes and models are eligible. Additionally, you can usually join federal and local rebates for even greater savings. Don’t hesitate to find out what's all available, because it can quickly add up to 10% of a new, high-efficiency cooling system
2023's Rebates for Smart Thermostats
A smart thermostat is an especially valuable addition to your home comfort system. With intelligent programming, you can enhance the daily schedule. Utility companies appreciate this level of efficiency, and so most extend rebate programs for new smart thermostats. After some time, these rebates virtually permit you to get a free smart thermostat!
These utility companies also offer programs where they provide lower rates for the capacity to control your thermostat during peak energy use. This helps minimize strain on the grid, especially when heat waves or cold fronts show up. When participating in this program, your thermostat may automatically be corrected by a few degrees.
Additional Ways to Save: High Efficiency Products and Home Improvement Credits
A little different than 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 updated credits are now worth 30% of the cost and can be claimed every year rather than only once. These credits are available for a much wider 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 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 specially targeted toward heat pump technology, which transfers heat instead of generating it by igniting fuel. To motivate more people to change to this energy-efficient comfort system, these rebates are considerably higher versus 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 making 80-150% of the average income can take care of 50% of equipment and installation costs.