How Can You Save Money When Buying High Efficiency Heating & Cooling?

August 25, 2016

When our Colorado weather turns uncomfortably hot or miserably frigid, the limitations of your heating or cooling systems are much more likely to make themselves known. It could be an aging furnace or air conditioner that can’t keep up with demand, or has grown failure prone, noisy, or inefficient. In the case of cooling, it could even be that you want an upgrade from fans, closing shades, and opening windows. Most of us have played that game at some point!

Regardless of the reason, at some point nearly every homeowner is faced with purchasing a new heating or cooling system. While many people look to buy the most efficient and reliable system for their budget, connecting the dots can sometimes be a real stretch. What assistance is available to help make this important investment as painless as possible?

Lennox condenser installationWhen you decide it’s time to get quotes for installing a new HVAC or hot water system, take the time to learn about cash rebates that can reduce your out-of-pocket expense. In the Denver and Boulder area, the primary utility, Xcel Energy, offers a broad range of rebates for the purchase of high efficiency heating, cooling, and hot water products. The intent of this program is to assist you in purchasing high-efficiency equipment that will help reduce your monthly bills and your carbon footprint, and reduce demand on the utility’s system. Xcel rebates are currently available for the purchase of high efficiency furnaces, boilers, air conditioners, evaporative coolers, and water heaters.

When looking into Xcel rebates and obtaining quotes for a new system, make sure you talk with an HVAC and plumbing contractor that is certified to represent the Xcel program. A program-certified contractor will be able to recommend qualifying equipment, assist you with any requirements, and help complete the paperwork that’s needed for you to obtain your check.

Manufacturer Seasonal Rebates

When the weather starts to remind us of the approaching heating or cooling season, a number of residential HVAC manufacturers offer seasonal rebates and special financing packages through their local dealers. In some cases, significant rebates are offered for furnace and air conditioner packages, but there are often rebates for individual pieces of equipment as well. Again, the emphasis is placed on higher quality, more energy efficient equipment, installed by a qualified contractor. Special financing offers are often available as well!

Consumer Financing

While it doesn’t translate directly to money savings today, consumer financing can help you acquire the high quality heating or cooling system today that can reduce your energy consumption for the next twenty years or so. If your system is nearing the end of its life but you don’t have the resources to invest immediately, the financing option might be a good match for you. Most professional HVAC companies have various financing programs that will allow you to purchase equipment over periods ranging from 6 to 60 months.

Tax Incentive Update:

We urge you to consult your tax advisor regarding residential energy conservation tax credit questions. However, the following summary should help get you started: There is up to a $500 federal tax credit available in 2016 to help offset investments in high efficiency heating or cooling and other energy saving measures for your home. This is a ‘lifetime credit,’ dating back to 2009, and therefore you will need to confirm whether you are eligible. You can visit the ENERGY STAR website for more complete information.

Need Help With Home Energy Priorities & Programs?

If the home energy landscape is a bit overwhelming for you, and you need help setting priorities around your home and navigating incentive options, there may be a local program available to help you out. In Boulder County, learn more about EnergySmart to see if it is a good fit for you. In the city and county of Denver, check out the Denver Energy Challenge.

In the Denver and Boulder area, contact Save Home Heat Company for expert advice and recommendations on heating, cooling, and hot water systems that will allow you to get the most out of your home comfort investment dollars.