It’s a question most of our customers don’t tend to ask because, well, most of us just assume that we know.
When we looked it up the other day, we found a succinct definition: a rebate is “a return of a part of a payment.”
Exactly. In our industry, a rebate is when a utility company returns a portion of your payment when you buy a particular type of product.
A rebate is not a coupon or a promotional special; you can’t apply a rebate to any product in our lineup.
Why is that? Because rebates aren’t free money. They’re incentives.
What does a rebate mean for heating and cooling products?
In the heating and cooling industry, rebates exist to incentivize you to purchase energy-saving products. They aim to achieve a goal: reducing the overall consumption of greenhouse gas-producing fuel: you buy an energy-saving heating or cooling system and they will knock off a portion of the cost!
Sometimes customers express frustration when a rebate doesn’t apply to the least expensive heating and cooling systems. But that’s because the systems that cost the least often don’t incorporate the newest technology—technology that reduces a system’s energy consumption.
To qualify for a rebate on a heating or cooling system in the Olympia area, you need to purchase a product with an Energy Star designation, such as one that uses multi-stage or variable speed technology.
What types of rebates are available?
Rebates in the heating and cooling industry are issued through utility companies that provide electricity or natural gas.
Sometimes a rebate is designed to pay you back a flat amount. This is the simplest transaction: buy an energy-saving system, get a check in the mail.
Other times, a rebate is based on the amount of energy you’re saving compared with the system you’re replacing.
For instance, if you replace an all-electric forced-air furnace with a variable speed system, the electric company would calculate the amount of energy you’re projected to save and pay you back based on this estimate.
With these rebates, the customer gets a financial break and the environment is less burdened. But what’s in it for utility companies? Savings. It’s much less expensive for them to encourage overall, long-term energy savings through reduced community-wide fuel consumption than it is to build new power plants. It’s a win-win-win.
How can I take advantage of rebates for my new HVAC system?
Talk with us! We’re always up-to-date on the different rebates available in the South Sound area. Call or text us during business hours to find out more.