A dependable HVAC system is essential for a comfortable and energy-efficient home, but it’s also a major investment. You deserve the most efficient comfort solutions achievable, 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 climbing next year, so now’s a great time to check out your options. Various companies, organizations and even government entities are extending rebates in 2023 to help everyone secure a new, high-efficiency HVAC system.
Rebates for High-Efficiency Furnaces
Many manufacturers of high-efficiency furnaces offer rebates for a new system. These furnaces feature energy-efficient components like variable-speed blower motors, which let the thermostat refine how much heating is produced. It’s an easy way to lower energy use overall. Local utilities also share furnace rebates because 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 enter your ZIP Code to learn which rebates you could be eligible for. Equipment featuring the ENERGY STAR® rating means it meets your region’s standards for energy-efficient operation.
Air Conditioner Rebates
Many of the same rebates for high-efficiency furnaces are also suitable 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 eligible. In addition, you can usually join federal and local rebates for even more savings. Don’t hesitate to learn what's out there, because it can quickly add up to 10% of a new, high-efficiency AC system.
Available Rebates for Smart Thermostats
A smart thermostat is a particularly valuable addition to your home comfort system. With intelligent programming, you can optimize the daily schedule. Utility companies highly value this degree of efficiency, and so most extend rebate programs for new smart thermostats. Over time, these rebates essentially allow you to get a free smart thermostat!
Local utility companies also provide programs where they provide discounted rates for the capability to access your thermostat during peak energy use. This helps avoid strain on the grid, especially when heat waves or cold fronts show up. When participating in this program, your thermostat can automatically be corrected by a few degrees.
Additional Ways to Save: Tax Credits for Energy-Efficient Equipment and Home Improvement Projects
Somewhat different from rebates, tax credits are also available for the purchase and installation of energy-efficient HVAC systems. For example, the Inflation Reduction Act reactivated 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 may be claimed each year rather than only once. These credits are obtainable 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 provide 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 contained separate legislation known as the High-Efficiency Electric Homes and Rebates Act, or HEEHRA. This incentive is specially aimed toward heat pump technology, which transfers heat instead of generating it by igniting fuel. To persuade more people to convert to this energy-efficient comfort system, these rebates are significantly higher than 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 pay for 50% of equipment and installation costs.