Installing a new HVAC system or upgrading your current setup can be easy to put off when you consider the up-front expense involved, but don't let that price tag keep you from enjoying all the benefits a new system can provide. HVAC rebates offered through government, utility companies and manufacturer programs can drop your investment significantly, leaving you with an amount that is much more budget-friendly.
- Gas Furnace ETO Cash Incentive ($1,600)
- Federal Tax Credit ($2,000)
- Heat Pump ETO Cash Incentive ($3,000)
- Oregon Department of Energy Rebate ($7,000)
- Additional Rebates
Utilizing rebates is a great way to make purchasing and installing an upgraded system more affordable. Find out if what you need has rebate potential and whether you qualify for the rebates available in your area.
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Gas Furnace ETO Cash Incentive
The Energy Trust of Oregon (ETO) offers a cash incentive of $1,600 to homeowners and landlords who meet the eligibility criteria. The system must be a qualified high-efficiency gas furnace with an AFUE of at least 95% and be installed in a household with moderate income or for eligible owners of single-family rental properties. This incentive program has been extended and lasts until December 31, 2023.
Federal Tax Credit
Included in the Inflation Reduction Act is the Non-Business Energy Property Tax Credit Program. This program offers up to $2,000 in deductions for new heat pump installations for the year. This credit is available to be utilized every year until the program expires in 2033. The actual amount you can receive is calculated to be 30% of your expenses related to the procurement and installation of the heat pump. The heat pump must be installed in an existing home, so new construction installations are not eligible, and the home is most often required to be your primary residence. The heat pump must have a thermal efficiency rating of at least 75% and must be a new electric or gas pump.
Heat Pump ETO Cash Incentive
For customers of PGE or Pacific Power who live in a single-family, manufactured, or multifamily home no bigger than a fourplex, or for landlords improving a single-family or manufactured home, Energy Trust of Oregon offers up to $3,000 in incentives to replace an electric furnace with an extended capacity heat pump. To qualify, the heat pump must be included on the ETO's qualified products list and be installed as the primary heating source for the home. Secondary heating sources in the home must be electric. Installations are eligible if they were completed after October 1, 2023.
Oregon Department of Energy Rebate
For Oregon landlords, the Oregon Department of Energy (ODOE) is offering a rebate of up to $7,000 for heat pump installations performed by approved contractors in rental units. Through the Oregon Rental Heat Pump Program, the approved rebate amount is given directly to the contractor and passed on to the client as a savings in project costs. The amount provided is determined by the type of heat pump being installed, the home type of the installation, and the income level of the tenant who lives in the dwelling. Eligibility depends on whether the contractor being used meets qualifying criteria and whether they are registered with the ODOE.
Don't forget to check for manufacturer's rebates when shopping for your HVAC system. Many manufacturers offer incentives for buying their products, and eligibility requirements are often lower than some of the bigger structured governmental and utility programs. In most cases, the only qualifying criteria is to purchase an eligible product and have it installed by an approved professional. These rebates can knock up to $500 off your investment on average and are open to anyone, regardless of home type or income level.
If you're a customer of Portland General Electric, you could qualify for a $200 instant discount when you have a heat pump installed by one of their approved contractors. Heat pumps must have a heating efficiency rating of at least 8.2 HSPF and cooling efficiency rating of no less than 14 SEER to qualify.
Need Help Navigating Which HVAC Rebates You Qualify For?
Four Seasons Heating & Air Conditioning has been helping Oregon homeowners with their HVAC incentives since 1979. Our NATE-certified technicians have the experience to provide you with a rebate-qualifying installation, and our staff can walk you through the redemption process to maximize your savings.