Investing in home upgrades can be fun….or not so fun! Many homeowners are excited to add a sunroom, remodel a bathroom, finish a basement, pick out new flooring or granite tops. How about picking out a new furnace though? HVAC is something we need but it’s not always fun to invest in because it can’t be seen. HVAC is all about comfort. As homeowners consider their HVAC upgrades, we are often asked out rebates, incentives, and tax credits. Being a new year, the money available to homeowners is different than what it was last year. To keep things simple, we’ve listed below what’s available now:
Lennox Equipment Rebates– The Lennox spring promotion is on from March 24 – June 13, 2014. Rebates ranging in price from $75 – $1,300 are available on high efficient equipment. Rebates are based on the installation of a single unit (air conditioner, heat pump or furnace) versus the installation of a full system (furnace, air conditioner or heat pump and thermostat). Rebates also vary based on the efficiency of the system. Also available are rebates ranging from $50 – $300 for PureAir filtration, zoning and solar panels.
Utility Rebates– A few of the utility companies are carrying their rebate programs into 2014.
Vectren- $150 for a 92-94% efficient gas furnace. $250 for a 95%+ efficient gas furnace. $300 for a 90%+ efficient natural gas boiler. $20 for a programmable thermostat.
Citizens Gas- $150 rebate for a 92-94% efficient gas furnace. $250 for a 95%+ efficient gas furnace. $300 for a 90%+ efficient natural gas boiler. $20 for a programmable thermostat.
Duke Energy- $200 for a 14+ seer heat pump with ECM fan on indoor unit. $200 for a 14+ seer air conditioner with ECM fan on indoor unit. $200 for 10.5+ EER geothermal heat pump.
Vectren and Citizens Gas also offer rebates for duct sealing, attic insulation and wall insulation. See their websites for insulation specifications. IPL’s residential rebate program ended in 2013.
Federal Tax Credit– The federal tax credit available for 2014 is a 30% tax credit on the installation of solar panels, wind energy and geothermal heat pumps. This tax credit will remain in effect until December 31, 2016.
If you are considering an upgrade to high efficient equipment, now is a great time to do so. Why not save some $$$ that you’d otherwise be spending? There are always options when it comes to HVAC systems, energy efficiency and comfort. Contact us anytime for a free quote!