Get Your Money Back: A Guide to HVAC Rebates and Incentives
If you’re like many Oklahoma residents, you rely on your air conditioner to stay comfortable during the hot summer months. But did you know there’s a way to keep cool and reap savings with HVAC rebates?
Learn about rebates for new air conditioning units that can cool more efficiently and offer tax benefits and buying incentives.
HVAC Rebates: What are They?
HVAC rebates are sums of money paid back to the purchaser on various heating, ventilating, and air conditioning systems in the home. You can find rebates for AC units that meet ENERGY STAR efficiency requirements.
ENERGY STAR is a government rating system that you’ve probably noticed on appliances around the home or office. The government works with utilities, community organizations, and municipalities to create ENERGY STAR programs that encourage energy-efficient practices.
And that includes buying and using high-efficiency HVAC systems in new or existing homes.
Manufacturer/Dealer AC Rebates
Energy-efficient air conditioners tend to be much more of an up-front investment, but this may be worth it since they come with both manufacture air conditioner rebates and government incentives.
Rebates from manufacturers and dealers may be seasonal and fall within specified time windows. It’s only natural that you’d want to know what rebate opportunities may be out there before you buy. And you can find this information by visiting manufacturer websites or searching the ENERGY STAR rebate finder database.
Incentives From Energy Companies
Your local government and utility providers are other sources of savings opportunities when you purchase a high-efficiency HVAC system. The summer time is a prime time for incentives from power companies and municipalities.
If you want to learn about energy tax credit programs near you, the Database of State Incentives for Renewables & Efficiency (DSIRE) is a helpful resource.
Tax Savings on High-Efficiency Systems
There are also tax rebates on air conditioning units at the federal level. This falls under the category of residential energy property costs. Incentives can only be applied to eligible systems installed before January 1, 2018.
If you install a high-efficiency central air-conditioning system in your home, you may be eligible for a rebate that covers the cost of installing the equipment.
You may also be able to claim tax credits for other energy-efficient home improvements.
When pursuing an HVAC tax rebate, make sure the Manufacturer Certification Statement backs up eligibility based on ENERGY STAR standards. You can find this with the packaging or on the manufacturer’s website.
If it does, keep the certificate for your records. Then you’ll need to submit Form 5695 to the IRS. You may also want to work with an accountant to make sure you’re getting the most out of possible energy-efficient tax savings opportunities before you file your tax return.
Keep Cool and Carry On With Local HVAC Experts
If you’re considering leveling up to a high-efficiency system that comes with HVAC rebates, we have the know-how to provide first-rate installation.
Contact us with questions on a new installation or any of your other HVAC needs.
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