Hey Chicagoland area did you know your utility providers, Nicor Gas, Peoples Gas and North Shore Gas have money to help you purchase a new furnace? And, did you know ComEd will kick in some money as well if you purchase a complete new furnace and air conditioning system? While they advertise the rebates, the fact is, each month on your utility bill you are paying for the program. The amount you pay is a reflection of the number or therms or kilowatts you consume.
The rebates are only available on high efficiency furnaces and air conditioning units. What is a high efficiency furnace? The gas companies consider a high efficiency furnace as a furnace that has at least a 92% AFUE, or Annual Fuel Utilization Efficiency. Simply put a 100,000 BTU furnace is a furnace that has an input of 100,000 BTUs and would be considered high efficient if its output was 92,000 BTUs or greater.
All three major gas companies will give you $200 if you install a 92% efficient furnace. The amount of rebate increases from each utility company if you install a more efficient furnace. Additionally, you can receive $400 from ComEd for installing a high efficient air conditioner. Once your system is installed, make sure your HVAC contractor provides an AHRI certificate that lists the efficiency of the furnace and the air conditioner. You will need this to get the rebate from your utility company.
Your rebate is not a deduction to your utility bill. It is a one time payment for the system you have installed. You must submit for your rebate and will take 6 to 8 weeks to receive your rebate. Here are the forms you will need to submit.
Some contractors, like ARS-Illinois (the company I represent) will provide the rebate as an instant discount off the cost of a system. The current rebate programs all expire on 5/31/2014. I expect changes to be made effective 6/1/2014.