If your home is older, it’s HVAC system may frequently need repairs, depending on how frequently you use heating and cooling throughout the year. If you want to upgrade the system, finding the funds is often the most challenging step. Fortunately, these three tips can help. 

3 Ways to Pay For HVAC Upgrades 

1. Financing Plans

Many home renovation and remodeling contractors, as well as HVAC and other appliance companies, provide financing options. These financing plans are typically based on credit approval and involve a set interest rate based upon the term you choose. They may be offered through a third party, such as a community credit union. There are typically options to pay off your loan within 1, 5, 7, 10, or 12 years, which gives you more time to pay without having to put off your upgrade. 

2. Rebates

Many states provide financial incentives for energy-efficient home and business upgrades. The Energize Connecticut incentive, for instance, offers discounts for eco-friendly items including natural gas furnaces and boilers, oil or propane furnaces, ENERGY STAR® heat pumps, Wi-Fi thermostats, geothermal heaters, and high-efficiency natural gas water heaters. The same initiative also provides rebates for ductless split heat pumps, with instant discounts of up to $500 per home. 

3. Energy Savings

It’s also important to factor in long-term savings when budgeting for your home renovation project. The federal government provides tax incentives for energy-efficient improvements, which can help you recoup some of the investment. Furthermore, you can save hundreds of dollars a year in electricity and heating and cooling costs by using energy-efficient devices. Eco-conscious upgrades can improve your home’s resale value as well. 

 
Duncklee Cooling & Heating, Inc in Stonington, CT, provides a range of HVAC services and products to make your home more safe, comfortable, and energy-efficient. For over 40 years, this business has served New London County residents with affordable, high-quality home improvement solutions like geothermal heat pumps and ductless AC and heat systems, as well as reliable HVAC repair. Call (860) 535-2552 or visit the website to learn more about their cooling options.