Replacing your HVAC system is a financial burden, but a new program in North Carolina could change that. Duke Energy’s latest initiative, Improve & Save, is helping homeowners in Raleigh, Fayetteville, and the Triangle area upgrade to more efficient HVAC systems with lower upfront costs. Here’s how it works and how you can benefit if your HVAC system is due for an upgrade.
Improve & Save is part of a company-wide effort to promote energy efficiency and help residents lower their electricity usage. Under this “on-utility-bill repayment program,” Duke Energy covers the upfront cost of installing a more efficient HVAC system or other energy-saving home upgrades. Homeowners then pay back the cost interest-free over 10 years through small payments added to their monthly utility bills. Duke Energy even handles ongoing maintenance on qualifying equipment for the life of the term.
Examples of qualifying systems include energy-efficient central air conditioners, heat pumps, ductless mini-splits, and water heaters. Eligible home improvements include air duct sealing.
What makes this plan especially attractive is that even while you’re repaying the cost of the system, you’ll likely see a $10 to $20 reduction in your energy bills because the energy savings from a new, high-efficiency HVAC system typically exceed the repayment amount. Households with old electric furnaces that upgrade to a heat pump could see the most dramatic savings.
Specific equipment automatically qualifies for a Smart $aver energy rebate, reducing project costs. The most efficient qualifying system and a new smart thermostat could grant you $850 in rebates.
Improve & Save is open to individually metered residential clients, homeowners, and renters. Clients must have at least a 12-month billing history with Duke Energy to enroll in the program. No income restrictions or credit checks are required to qualify, making the program accessible to people who might not be eligible for traditional financing options. If you move, the new occupant takes over the payments, making it an excellent choice for anyone looking to sell soon.
Not sure if your HVAC system is due for an upgrade? Here are a few signs that it might be time to consider a replacement:
If your HVAC system shows signs of wear, Blanton’s Air can help you take advantage of Duke Energy’s Improve & Save program and money-saving rebates. With over 70 years of experience serving Raleigh, Fayetteville, and the Triangle area, Blanton’s provides expert HVAC replacement services backed by our proven process and commitment to “wow” experiences.
Don’t wait for your energy bills to spike — contact Blanton’s today for a complimentary consultation on your replacement.
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