Rebates in Richmond

A reliable HVAC system is vital for a comfortable and stress-free home, but it’s also a significant purchase. Each and every homeowner deserves top-notch climate control solutions, no matter their budget. That’s why HVAC rebates and other savings opportunities are so beneficial. By utilizing rebates, tax credits and various plans, you can make new installation more affordable. But before you get started, here are a few helpful tips to ensure you optimize credits and rebates.

For instance, HVAC systems’ energy efficiency is rising, so you’ll want to check the minimum ratings to understand what’s an energy-efficient option for your local climate. If you want to apply for these tax credits, your HVAC system needs to meet these standards.

Eveready Service Experts can simplify things for you. By sharing details about local HVAC rebates online, it becomes more convenient for homeowners to save money and effort on this crucial utility. We’ll also aid you in locating the ideal make and model to ensure you benefit the most from heat pump incentives, AC incentives and more.

How New Standards Impact Energy Efficiency Ratings and HCFC Refrigerant

As our HVAC systems improve, so do our standards for energy-efficient heating and cooling. There are different rating systems for heating and cooling units, and anything failing to reach these standards can only be sold or installed if they were manufactured before the cutoff date. Use these rating systems to easily identify which models are eligible for rebates and tax credits.

HVAC Standards for Energy Efficiency

Over the course of seven years, the U.S. Department of Energy updates the minimum efficiency requirements for HVAC systems. This time, there are new minimum efficiency standards that homeowners need to be aware of. In Northern states, non-compliant AC and heat pump systems finished before January 1, 2023, can still be sold and installed. Meanwhile, in the Southeast and Southwest regions, non-compliant air conditioning systems are not allowed regardless of their manufacture date. Non-compliant heat pumps developed before January 1, 2023, can still be sold and installed in these areas.

Knowing these HVAC efficiency metrics is essential for both manufacturers and homeowners:

• SEER and SEER2: Seasonal Energy Efficiency Ratio systems are for air conditioners, with the SEER2 ratings only applying to newer AC systems. The minimum for both SEER and SEER2 ratings differ by region across the United States, with hotter southern climates requiring higher efficiency ratings.
• EER: An analogous system to SEER, EER ratings focus only on the electric capacity of an AC or heat pump, comparing the BTUs against energy output in watts.
• HSPF and HSPF2: HSPF stands for Heating Seasonal Performance Factor and measures energy use for heat pumps, with HSPF2 being the newest standard for the latest designs.
• AFUE: The Annual Fuel Utilization Efficiency system illustrates furnace efficiency by the amount of heat produced per dollar of fuel. Today’s minimum standards require an 81% AFUE rating or higher.

Minimum HVAC Efficiency Ratings for 2024

New Environmental Protection Agency Refrigerant Regulations

A large part of why HVAC technology evolved was the need for safer, more efficient refrigerant. In the past, most air conditioners used something called R-22, more commonly known as Freon, for coolant. But this substance is a hydrochlorofluorocarbon (HCFC), which was found to deplete the ozone. The US started to remove HCFCs in the mid 1990s and passed the 2020 American Innovation and Manufacturing Act to speed up the replacement of HVAC equipment still using Freon and other HCFC refrigerants.

Lower First Expenses with Federal Tax Credits

The Inflation Reduction Act of 2022 has made it easier for homeowners to save on new HVAC equipment and other energy-efficient upgrades. This is how you can take advantage of these opportunities:

• Residential Energy Credits
• Household Energy Tax Credits

Home Energy Credits

You can claim tax credits for different energy-efficient improvements like HVAC systems and insulation as well as energy-efficient windows and doors. These credits help cut down the total cost of home energy upgrades, making it more affordable to improve your home’s efficiency.

Energy-Efficient Home Improvement Credit

This credit recoups 30% for the installation of eligible home improvements, up to $1,200 annually. This includes upgrades to heating and cooling systems, energy-efficient windows and doors, and insulation. By utilizing this incentive, you can upgrade to better home efficiency and enjoy even more energy savings.

US Federal Tax Incentives and Deductions

The Inflation Reduction Act of 2022 offers considerable financial incentives for certain energy upgrades, available through 2032. Homeowners can receive up to $3,200 annually, lowering the cost of energy-efficient home improvements by 30%.

Solar Energy System Installation and Solar HVAC: With the Inflation Reduction Act, you can get a tax credit for 30% of the cost of installing clean energy systems like solar panels and solar-powered HVAC systems. This credit makes solar energy more available and affordable, spreading the use of renewable energy sources.

Energy-Efficient Heat Pumps: The Act also includes incentives for installing energy-efficient heat pump systems. incentives can cover a significant portion of the cost, making heat pumps especially attractive for enhancing your home’s heating and cooling efficiency. Heat pumps are a particularly energy-efficient option and can greatly lower your energy consumption and costs.