A well-designed HVAC system is crucial for a comfortable and energy-efficient home, but it’s also a significant investment. Every homeowner deserves the most efficient comfort solutions available, which is why HVAC rebates are so important. They can help make sure high-efficiency furnaces, air conditioners and other equipment is more affordable.
HVAC efficiency standards are increasing next year, so now’s an excellent time to compare your options. Different companies, organizations and even government entities are offering rebates in 2023 to help everyone secure a new, high-efficiency HVAC system.
Receive a Tax Rebate by Installing a High Efficiency Furnace
Numerous manufacturers of high-efficiency furnaces extend rebates toward buying a new system. These furnaces incorporate energy-efficient components such as variable-speed blower motors, which allow the thermostat to optimize how much heating is generated. It’s a fantastic way to reduce energy use overall. Local utilities also share furnace rebates because 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 submit your ZIP Code to see which rebates you might 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 useful for 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 entitled. What’s more, you can usually bundle federal and local rebates for even higher savings. Don’t hesitate to find out what’s all available, because it can easily add up to 10% of a new, high-efficiency air conditioner
Potential 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 enhance the daily schedule. Utility companies can benefit from this kind of efficiency, and so most offer rebate programs for new smart thermostats. In time, these rebates essentially enable you to get a free smart thermostat!
These utility companies also offer programs where they swap lower rates for the ability to control your thermostat during peak energy use. This helps avoid strain on the grid, particularly when heat waves or cold fronts come through. When registered in this program, your thermostat may automatically be adjusted by a few degrees.
Other Ways to Save: High Efficiency Products and Home Improvement Credits
Slightly different from rebates, tax credits are also offered for the purchase and installation of energy-efficient HVAC equipment. For example, the Inflation Reduction Act reactivated 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 obtainable for a much wider variety of projects, such as home energy audits, electrical, insulation, ventilation, and even your doors and windows! The programs are tailored to provide 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 especially targeted toward heat pump technology, which transfers heat instead of creating it by igniting fuel. To motivate more people to change to this energy-efficient comfort system, these rebates are considerably higher compared to incentives for AC units and furnaces.
If your household’s income is less 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 meeting 80-150% of the average income can pay for 50% of equipment and installation costs.
