A dependable HVAC system is crucial for a comfortable and energy-efficient home, but it’s also a major investment. Every homeowner deserves the most effective 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 going up next year, so now’s an excellent time to compare 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.
Receive a Tax Rebate by Installing a High Efficiency Furnace
Numerous manufacturers of high-efficiency furnaces offer rebates toward buying a new system. These furnaces feature energy-efficient components like variable-speed blower motors, which allow the thermostat to refine how much heating is generated. It’s an easy way to lower energy use overall. Local utilities also provide furnace rebates as less energy use means less strain on the local energy grid.
The government’s ENERGY STAR® program is also recommended for obtaining a furnace rebate. You can type in your ZIP Code to see which rebates you could be eligible for. Equipment with the ENERGY STAR® rating means it fulfills your region’s standards for energy-efficient comfort.
Earning a Rebate for a High Efficiency Air Conditioner
Plenty of of the same rebates for high-efficiency furnaces are also suitable for air conditioners. You can save hundreds on new installation for a system from a top brand like Lennox. Just consult your local utility companies to find out which makes and models are entitled. Additionally, you can usually bundle federal and local rebates for even more savings. Don’t hesitate to find out what's all available, because it can easily add up to 10% of a new, high-efficiency AC system
Available Rebates for Smart Home Accessories Like Smart Thermostats
A smart thermostat is an especially valuable improvement 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 essentially allow you to get a free smart thermostat!
Your utility companies also offer programs where they provide reduced rates for the capacity to access your thermostat during peak energy use. This helps avoid strain on the grid, namely when heat waves or cold fronts arrive. When registered in this program, your thermostat may automatically be changed by a few degrees.
More Cost-Saving Options: 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 systems. For example, the Inflation Reduction Act restarted a program in 2021 that provided 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 instead of only once. These credits are available for a much larger variety of projects, such as home energy audits, electrical, insulation, ventilation, and even your doors and windows! The programs are fashioned 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 particularly aimed toward heat pump technology, which transfers heat instead of generating it by igniting fuel. To encourage more people to convert 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 could use the rebates to cover 100% of the costs of a new heat pump. Households that meet 80-150% of the median income can take care of 50% of equipment and installation costs.