A dependable HVAC system is crucial for a comfortable and energy-efficient home, but it’s also a significant investment. Everyone deserves the most productive comfort solutions achievable, which is why HVAC rebates are so beneficial. They can help make sure high-efficiency furnaces, air conditioners and other equipment is more budget friendly.

HVAC efficiency standards are going up next year, so now’s a great time to explore your options. Different companies, organizations and even government entities are extending rebates in 2023 to help everyone secure a new, high-efficiency HVAC system.

Receive a Tax Rebate by Installing a High Efficiency Furnace

Many manufacturers of high-efficiency furnaces provide rebates for a new system. These furnaces incorporate energy-efficient components like variable-speed blower motors, which allow the thermostat to fine-tune how much heating is generated. It’s a fantastic way to lower energy use overall. Local utilities also provide furnace rebates since less energy use means less strain on the local energy grid.

The government’s ENERGY STAR® program is also useful for acquiring a furnace rebate. You can submit your ZIP Code to see which rebates you might be approved for. Equipment featuring the ENERGY STAR® rating means it meets your region’s standards for energy-efficient comfort.

Air Conditioner Rebates

A lot 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 leading 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 combine 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 optimize the daily schedule. Utility companies appreciate this kind of efficiency, and so most extend rebate programs for new smart thermostats. After some time, these rebates effectively permit you to get a free smart thermostat!

Local utility companies also create programs where they provide lower rates for the capacity to access your thermostat during peak energy use. This helps reduce strain on the grid, namely when heat waves or cold fronts come through. When registered in this program, your thermostat may automatically be adjusted by a few degrees.

Other Cost-Saving Options: High Efficiency Products and Home Improvement Credits

A little different than rebates, tax credits are also promoted for the purchase and installation of energy-efficient HVAC systems. For example, the Inflation Reduction Act reactivated a program in 2021 that offered 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 as opposed to only once. These credits are obtainable for a much larger variety of projects, including home energy audits, electrical, insulation, ventilation, and even your doors and windows! The programs are tailored to share 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 incorporated separate legislation referred to as the High-Efficiency Electric Homes and Rebates Act, or HEEHRA. This incentive is particularly targeted toward heat pump technology, which transfers heat instead of generating it by igniting fuel. To encourage more people to convert to this energy-efficient comfort system, these rebates are considerably higher compared to incentives for AC units and furnaces.

If your household’s income is lower than 80% of the local median, you could use the rebates to cover 100% of the costs of a new heat pump. Households meeting 80-150% of the average income can pay for 50% of equipment and installation costs.