Rebates And Financing Updates For High-Efficiency Heat Pumps And Furnaces
Here on the Airquip blog, we talk a lot about HVAC systems that give you the best bang for your buck. There are plenty of options out there that can drastically lower your monthly energy bills. So, this week we’re looking at the latest rebates and financing updates for high-efficiency heat pumps and furnaces.
Upgrading our heating system saves you money in the long run. But doing it can cost thousands of dollars. Of course, with the right one, you’ll get that money back in savings over time. But, there’s still that big upfront cost.
The good news is there are lots of ways to make it way less expensive. You can get money back for buying certain models. And, you can always pay it back over time.
Let’s look at some of the best options and updates out there today.
Where do I find rebates for high-efficiency HVAC equipment?
You may be surprised to find out that the people who will give you money for using less energy are the same ones that make money off your energy usage. That’s right: Your local utility company! Believe it or not, Rochester Gas & Electric
and New York State Electric and Gas
are your best bet for rebates on high-efficiency heat pumps and furnaces.
But first of all, what does that mean exactly? That’s simple: It’s a unit that uses less energy to do the same job as a comparable one.
Just to use numbers, let’s say your old furnace produces 15,000 BTUs of heat (that’s British Thermal Units) and costs you $100 a month in energy bills. A more efficient model gives you 15,000 BTUs but uses less energy. So, your bill is less than $100.
Those are just rough numbers, but that’s how it works. Newer appliances use the latest technology to get the job done for less money.
For instance, ductless heating systems have inverter technology built into them. This way, they run at low “cruise control” speeds to maintain the temperature. That takes less energy than an older system that fires up when the temperature dips, then turn back off.
Finding appliances like these are easy. You don’t need to go too crazy comparing usage or kilowatt-hours or anything that technical. Instead, just look for the Energy Star logo. That means it means government standards showing it uses less energy than comparable units. And, it’ll provide you with an estimate of how much you’ll save.
What kind of rebates can I get on high-efficiency heat pumps and furnaces?
The amount of money you can get back for a high-efficiency heat pump or furnace depends on:
The size of your home
The models you choose
The type of energy it uses
If you visit Rochester Gas & Electric
or New York State Electric and Gas
, you’ll get an idea of your options. But there’s a whole lot to consider. We’ll help you make sense of it here. But really, you’ll want to speak with one of our HVAC professionals in person. We’ve got more than two decades Western NY from Rochester to Buffalo And, you can see by all those great reviews that we’re pretty good at what we do. For now, though, let’s look at the basics.
A lot of these incentive programs are set up per unit. So, you need to consider how much power you need for your home. The bigger the house, the more energy you’ll use heating and cooling it.
Now, in some cases, you can get more than one appliance. In others, you really only use one.
For instance, it’s very rare that someone will have two boilers or burners in their house. After all, it’s called “central” heating for a reason! Even in a home with a lot of space and rooms, you’re likely to have one model powerful enough to cover the whole house.
But, zoned HVAC is becoming more popular. That’s when you treat various rooms independently instead of relying on one duct or pipe system for the whole house.
Again, that’s usually done with ductless heating. In this case, you’d put air handlers in various parts of the house. Each one has a thermostat and works independently from the others. When you do that, now you’re looking at more pieces. And, each one of them is eligible.
Meanwhile, the type of energy you’re using makes a difference. But, that amount varies a lot. [#utility company#] calculates each one’s efficiency and also how much power they provide.
But, you can still get money back with traditional HVAC systems. Oil, gas, and air conditioners are still eligible as long as they’re Energy Star models.
Why do Rochester Gas & Electric and New York State Electric and Gas offer these incentives?
Today, there’s a big push for people to use less energy. There’s the environmental component: using less energy causes less pollution. Then there’s sustainability and energy independence: Use less energy and you’re not as reliant on, say, foreign countries to provide oil
Today, energy providers are actually overloaded a lot of times. They just can’t keep up with demand. So, it actually costs them less to have people using a little less energy. This way, they can keep up with demand without having to invest in more infrastructure.
On top of that are EPA regulations. The Environmental Protection Agency is in charge of protecting human health and the environment. That means clean air, land, and water.
Burning fossil fuels creates pollution. So, there are more and more regulations on energy providers in place to limit that impact. And, more and more, it makes better fiscal sense for those providers to promote energy-efficient appliances. That way they can still make money without racking up fines or making expensive changes to their equipment.
What are my financing options for new HVAC equipment?
Of course, even with money-back options, you’re still going to spend a lot of money on a new HVAC system for your whole house. That’s where financing comes in. This way, you can pay it off little by little. You just need to find the best one.
You can put it on a credit card, of course. But that can be a lot in interest payments. And, if you hit your credit limit, you can’t use the card until you pay down the balance.
Banks and traditional lenders for personal loans are other options. But, it’s a lot of extra paperwork and a few extra steps. Depending on the loan you’re getting, you’ll deal with a credit check and other hurdles.
What you can consider is setting up a payment plan directly through us. As the HVAC company installing the system, we cover the costs upfront. Then, you’ll pay us back over time.
Yes, you’ll need to go through a loan process to get set up. But, since you’re doing direct with us, it’s a lot less time and paperwork. We’ll hammer out a payment plan and get you approved quickly. That way, we spend more time helping you choose the right system for your home. And, we’ll have it up and running quicker, too.
The best part? In some cases, you can get a zero-interest loan. That’s big savings over a credit card APR or interest on a personal loan.
That’s no small thing, either. Remember: with your new energy-efficient system, you’re paying less each month on your utility bills. So, you want to keep the payments low for the installation.
If you do it right, you’ll start saving money immediately. The cost of the loan plus your lower energy bills could end up being less than you’ve been paying monthly for your heat or cooling in the first place. And, working with your HVAC company for both makes that even easier to coordinate.
Are you interested in using rebates and financing options for a high-efficiency heat pump or furnace? Contact us, and we’ll find the solution that’s best for you.