A well-designed HVAC system is essential for a comfortable and energy-efficient home, but it’s also a significant investment. Everyone deserves the most effective 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 increasing next year, so now’s an ideal time to explore your options. Various companies, organizations and even government entities are promoting 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 include energy-efficient components like variable-speed blower motors, which enable the thermostat to fine-tune how much heating is produced. It’s a fantastic way to lower energy use overall. Local utilities also share furnace rebates as less energy use results in less strain on the local energy grid.
The government’s ENERGY STAR® program is also helpful for securing a furnace rebate. You can type in your ZIP Code to find out which rebates you might be qualified for. Equipment displaying the ENERGY STAR® rating means it meets your region’s standards for energy-efficient operation.
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 leading brand like Lennox. Just check with your local utility companies to verify which makes and models are suitable. In addition, you can easily join federal and local rebates for even more 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 Home Accessories Like Smart Thermostats
A smart thermostat is a particularly valuable improvement to your home comfort system. With intelligent programming, you can optimize the daily schedule. Utility companies highly value this level of efficiency, and so most offer rebate programs for new smart thermostats. Over time, these rebates essentially allow you to get a free smart thermostat!
These utility companies also offer programs where they exchange lower rates for the capability to access your thermostat during peak energy use. This helps avoid strain on the grid, namely when heat waves or cold fronts arrive. When participating in this program, your thermostat can automatically be changed by a few degrees.
More Cost-Saving Options: Tax Credits for Energy-Efficient Equipment and Home Improvement Projects
Slightly different from rebates, tax credits are also available for the purchase and installation of energy-efficient HVAC equipment. For example, the Inflation Reduction Act restarted a program in 2021 that provided credits for up to 10% of the project’s cost. The new credits are now worth 30% of the cost and can be claimed every year rather than only once. These credits are obtainable for a much larger variety of projects, like home energy audits, electrical, insulation, ventilation, and even your doors and windows! The programs are tailored to offer the most benefits for lower-income households, maximizing the improvements to HVAC efficiency across the country.
New Legislation for Heat Pump Rebates
The recently passed Inflation Reduction Act included separate legislation known as the High-Efficiency Electric Homes and Rebates Act, or HEEHRA. This incentive is especially aimed toward heat pump technology, which transfers heat instead of producing it by burning fuel. To motivate more people to change to this energy-efficient comfort system, these rebates are significantly higher compared to incentives for AC systems and furnaces.
If your 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 meeting 80-150% of the average income can take care of 50% of equipment and installation costs.