Guide To HVAC Rebates In 2023
A quality HVAC system is essential for a comfortable and energy-efficient home, but it’s also a significant investment. You deserve the most efficient comfort solutions available, which is why HVAC rebates are so important. They can help ensure high-efficiency furnaces, air conditioners and other equipment is more budget friendly.
HVAC efficiency standards are climbing next year, so now’s an excellent time to explore your options. A variety of companies, organizations and even government entities are promoting rebates in 2023 to help everyone acquire a new, high-efficiency HVAC system.
Furnace Rebates Require High Efficiency Models
Lots of manufacturers of high-efficiency furnaces offer rebates toward buying a new system. These furnaces feature energy-efficient components such as variable-speed blower motors, which allow the thermostat to optimize how much heating is produced. It’s an easy way to decrease energy use overall. Local utilities also offer furnace rebates since less energy use translates to less strain on the local energy grid.
The government’s ENERGY STAR® program is also helpful for obtaining a furnace rebate. You can type in your ZIP Code to learn which rebates you might be qualified for. Equipment with the ENERGY STAR® rating means it satisfies your region’s standards for energy-efficient operation.
Air Conditioner Rebates
Plenty of of the same rebates for high-efficiency furnaces are also applicable to air conditioners. You can save hundreds on new installation for efficient cooling from a top brand such as Lennox. Just check with your local utility companies to learn which makes and models are eligible. What’s more, you can often join federal and local rebates for even greater savings. Don’t hesitate to find out what’s all available, because it can easily add up to 10% of a new, high-efficiency AC system
Available Rebates For 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 appreciate this kind of efficiency, and so most provide rebate programs for new smart thermostats. Over time, these rebates effectively permit you to get a free smart thermostat!
Your utility companies also offer programs where they exchange discounted 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 can automatically be adjusted by a few degrees.
Additional Cost-Saving Options: 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 updated credits are now worth 30% of the cost and can be claimed each year rather than only once. These credits are eligible for a much greater variety of projects, like 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 nationwide.
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 combusting fuel. To encourage more people to change to this energy-efficient comfort system, these rebates are substantially higher versus incentives for AC units and furnaces.
If your household’s income is less than 80% of the local median, you could use the rebates to cover 100% of the costs of a new heat pump. Households making 80-150% of the typical income can take care of 50% of equipment and installation costs.
