Lower your cost of new heating and cooling equipment with rebates and financing options.

Many energy providers, state governments, and equipment manufacturers are offering rebates to offset the costs of high-efficiency heating and cooling systems. These incentives help homeowners make energy-efficient upgrades to their homes so they can control their indoor temperatures more sustainably.

In general, the higher the efficiency of a new furnace, air conditioner, ductless system, or heat pump, the more you save.

When rebates from Mass Save® are combine with those from participating manufacturers, such as Carrier®, you can save up to one-fifth of the project cost, including installation.

Not only will your energy bills decrease significantly, but your overall year-round comfort will improve drastically.

Here are some current rebate incentives:

CPS Heating and Cooling is a Mass Save Heat Pump Installer partner

Mass Save®

When you purchase an air conditioning system or heat pump that is Energy Star rated, you may be eligible for these rebates and incentives available from Mass Save:

  • Up to $100 rebate for smart and programmable thermostats
  • Up to $10,000 rebate for electric heating and cooling
  • Up to $750 rebate for electric heat pump water heaters
  • Up to $2,750 rebate for gas heating
  • Up to $800 rebate for oil heating
  • Up to $2,300 rebate for propane heating
  • Rebates up to $16,000* per home on air source heat pumps
  • Rebates up to $25,000* per home on ground source heat pumps

Rebates through December 31, 2023.

*Residential heat pump equipment must be installed by a contractor participating in the Heat Pump Installer Network. Rebates may vary based on planned use and income verification. CPS is proud to be a Mass Save Heat Pump Installer Partner.

Learn more about Mass Save Programs.

The Federal Inflation Reduction Act provides tax credits for homeowners investing in energy efficient HVAC equipment.

Federal Inflation Reduction Act of 2022

With prices rising, the government has instated legislation that offers tax credits to homeowners equal to 30% of HVAC installation costs up to $1,200 ($2,000 for heat pumps). Additionally, there are tax credits and rebates that may be available for the following energy-efficient units:

Air Conditioners: Up to $600 tax credit*

Heat Pumps: Up to $2,000 tax credit*

Gas Furnaces and Boilers: Up to $600 tax credit*

Advanced Main Air Circulating Fan (using no more than 2% of furnace’s total energy): Up to $50 tax credit

Electric Heat Pumps: Up to $8,000 in rebates

ENERGY STAR® Geothermal Heat Pumps: 30% of installation cost tax credit

* Products must be in the highest CEE tier (efficiency ratings)

Take advantage of Carrier New England's AC Upgrade program for qualifying Carrier furnace with installation of replacement AC, by CPS Heating and Cooling.

Carrier New England A/C Upgrade Program

For qualifying Carrier furnaces with the installation of a new or replacement Carrier air conditioning unit

Efficient A/C or heat pump up to $350 rebate
More efficient A/C or heat pump up to $450 rebate
Most efficient A/C or heat pump up to $600 rebate
Inverter heat pump system $1,200 rebate
Greenspeed hybrid heat pump system up to $1,400 rebate

Limited-time offer: ask us for details.

Massachusetts “HEAT” Loans

The residential HEAT Loan Program provides 0% loans from participating lenders to assist with qualified energy-efficient improvements in residential homes.

Loans are available up to $25,000 with terms up to 7 years (depending on the loan type).

Limited time offer: ask us for details.

Rebates can be difficult to navigate but your CPS Heating & Cooling consultant can help you identify the best rebate offers and we will even handle much of the paperwork for you. Contact us today.

Please note: We do our best to keep our web pages up to date with the latest offerings from Mass Save and other agencies offering heating and cooling incentive programs. We are not responsible for outdated information that may appear on this website. We verify rebate offerings when a job is contracted, and make you aware of any time-sensitive information.