Heating and cooling systems rely on significant amounts of energy to create a comfortable home environment. Many new HVAC systems offer improved energy efficiency and cost savings when compared with older models. If your system is 10+ years old, it could be worth the switch to an updated system. Let’s explore the potential financial benefits of upgrading your HVAC system.
Rebates and Tax Credits for Energy Efficient HVAC Systems
The first benefit of upgrading your HVAC system to an energy efficient model are the rebates and tax credits available to help cover the cost of a new system. The government wants to encourage and reward you for making an energy efficient choice! In fact, you can save up to $3,200 annually for efficiency upgrades. Find out more about Federal Tax Credits for Energy Efficiency by watching this video.
Geothermal Heat Pump Systems are a great energy efficient option to consider. You can receive a 30% federal uncapped tax credit on install costs for new construction or existing homes. Find out more about the tax credit here.
To search for other products that have available tax credits, you can use this helpful tool. Simply put your zip code in the search bar and explore your options.
At Henry, we install Bryant heating and cooling systems. Their website offers the ability to search for rebates available on Bryant products. We would be happy to answer any questions you have about these products and discuss their benefits.
If you are interested in learning more about eco-friendly HVAC systems, we recently wrote this article to help you navigate the topic.
Energy Efficient Heating & Cooling Systems: Reduce Usage and Save
One of the major benefits of a new HVAC system is the improved energy efficiency of the latest models. You can use this online tool by ENERGY STAR® to easily find energy efficient systems.
According to ENERGY STAR®’s website, “products that earn the ENERGY STAR label meet strict energy-efficiency specifications set by the U.S. EPA, helping you save energy and money while protecting our climate by making choices that count for a clean energy future”. So, not only will you enjoy the financial benefits of reduced energy usage, you’ll also help our planet!
HVAC Maintenance & Repair Cost Savings
As heating and cooling systems age, they experience wear and tear. Regular maintenance helps reduce the effect, but it does not prevent aging altogether. Eventually, you could face costly repairs which happen more frequently when you have an old system. Before you know it, you’ve sunk a significant amount into keeping the system running, but could have used those funds towards a new system.
Is It Time to Upgrade my HVAC System to Save?
While each case is different, the following advice may help you determine the right path to take:
- Are repair costs more than a third of the cost of a new system and your system is over 10 years old? It might make sense to replace it.
- Are repairs less than a third of the cost of a replacement and your system is under 10 years old? It probably has more productive years ahead, so try repairs first.
The best way to determine whether it is time to upgrade your HVAC system is to contact us for an evaluation. We will work with you closely to come up with a plan that best fits your unique needs.
