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 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 a great time to check out your options. Various companies, organizations and even government entities are offering 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 for a new system. These furnaces include energy-efficient components such as variable-speed blower motors, which enable the thermostat to fine-tune how much heating is produced. It’s an easy way to decrease energy use overall. Local utilities also offer furnace rebates as less energy use results in less strain on the local energy grid.
The government’s ENERGY STAR® program is also recommended for obtaining a furnace rebate. You can submit your ZIP Code to find out which rebates you might be qualified for. Equipment featuring the ENERGY STAR® rating means it meets your region’s standards for energy-efficient performance.
Earning a Rebate for a High Efficiency Air Conditioner
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 a system from a top brand such as Lennox. Just check with your local utility companies to find out 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 see what all you can find, because it can easily add up to 10% of a new, high-efficiency air conditioner
Potential Rebates for 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 appreciate this kind of efficiency, and so most provide rebate programs for new smart thermostats. After some time, these rebates effectively permit you to get a free smart thermostat!
Local utility companies also provide programs where they exchange lower rates for the capability to control your thermostat during peak energy use. This helps avoid strain on the grid, especially when heat waves or cold fronts show up. When enrolled in this program, your thermostat will automatically be changed by a few degrees.
Other Ways to Save: High Efficiency Products and Home Improvement Credits
A little different from rebates, tax credits are also offered for the purchase and installation of energy-efficient HVAC equipment. 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, such as home energy audits, electrical, insulation, ventilation, and even your doors and windows! The programs are fashioned 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 included separate legislation called the High-Efficiency Electric Homes and Rebates Act, or HEEHRA. This incentive is especially aimed toward heat pump technology, which transfers heat instead of creating it by igniting fuel. To encourage more people to transition to this energy-efficient comfort system, these rebates are considerably higher versus incentives for AC units 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 median income can pay for 50% of equipment and installation costs.