A dependable HVAC system is vital for a comfortable and energy-efficient home, but it’s also a major investment. You deserve the most productive comfort solutions available, which is why HVAC rebates are so important. They can help guarantee high-efficiency furnaces, air conditioners and other equipment is more budget friendly.
HVAC efficiency standards are increasing next year, so now’s a great time to explore 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 feature energy-efficient components like variable-speed blower motors, which let the thermostat fine-tune how much heating is released. It’s a fantastic way to reduce energy use overall. Local utilities also offer furnace rebates since less energy use results in less strain on the local energy grid.
The government’s ENERGY STAR® program is also recommended for securing a furnace rebate. You can type in your ZIP Code to see 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 equipment from a leading brand such as Lennox. Just consult your local utility companies to find out which makes and models are entitled. In addition, you can often join 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 air conditioner
Potential Rebates for Smart Home Accessories Like Smart Thermostats
A smart thermostat is an incredibly valuable addition 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. In time, these rebates effectively enable you to get a free smart thermostat!
Local utility companies also offer programs where they swap reduced rates for the capability to control your thermostat during peak energy use. This helps avoid strain on the grid, namely when heat waves or cold fronts come through. When enrolled in this program, your thermostat can automatically be corrected by a few degrees.
Additional Incentives: High Efficiency Products and Home Improvement Credits
Slightly different than 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 supplied credits for up to 10% of the project’s cost. The new credits are now worth 30% of the cost and can be claimed each year rather than only once. These credits are available for a much greater variety of projects, including home energy audits, electrical, insulation, ventilation, and even your doors and windows! The programs are fashioned 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 specially aimed toward heat pump technology, which transfers heat instead of creating it by igniting fuel. To persuade more people to convert to this energy-efficient comfort system, these rebates are substantially higher versus incentives for AC systems and furnaces.
If the household’s income is below 80% of the local median, you can use the rebates to cover 100% of the costs of a new heat pump. Households meeting 80-150% of the typical income can take care of 50% of equipment and installation costs.
