If you’ve been worried about the rising cost of living lately, you’re not alone – 25% of Americans feel like they’re “just getting by” and 7% are “finding it very difficult” to afford daily necessities.
Skyrocketing energy costs are a large contributor to this growing stress. The price of electricity in America has risen by 70% over the last 20 years, from $0.10 per kW in 2002 to $0.17 per kW in 2022. With the average American home using about 10,715 kWh of electricity per year, it’s no wonder many homeowners are considering how to make their home more energy efficient.
But energy efficiency isn’t just about saving money. While electric heating and cooling is much cleaner than systems run on oil or natural gas, overconsumption still comes at an environmental cost – think floods, droughts, wildfires, and more.
For this reason, many governments are working closely with utility providers to offer rebates that make energy-efficient home upgrades – like new insulation, solar panels, and smart thermostats – more financially accessible to homeowners.
What is a Rebate?
A rebate is a discount that is offered by a seller or third party after the purchase of a product or service has been made.
There are two primary types of rebates: Instant and Mail-In.
Instant rebates offer an immediate discount on the purchase of a product or service. This means that the price you pay will instantly be reduced by the value of the rebate at checkout. There is usually no additional action required.
In some instances, you will be required to make the purchase from a specific store or website. For example, some utility providers only offer instant rebates when a purchase is made on their own platform.
Mail-in rebates require the customer to first make a purchase and then submit proof of the purchase in order to receive the value of the rebate as a credit.
The process of submitting proof of purchase varies depending on the rebate provider. Most utility providers offering energy efficiency rebates have an online application form that asks for information such as your utility account number, product details like make and model, and the date of purchase.
Can I Redeem an Instant Rebate After I’ve Already Made a Purchase?
If you purchased a product in-store or from an online retailer before realizing there was an instant rebate offered by your utility, you can usually submit proof of your purchase via an application form that your utility provides. In most cases, the rebate will be offered as a credit on your next utility bill.
Can I Combine a Rebate with a Sale or Coupon Code?
The beauty of rebates offered by a third party (like a utility) is that you can usually combine them with discounts or coupon codes offered by the retailer. For example, if a product that is regularly $100 is on sale for $75 and you have an instant rebate worth $25, you’ll only pay $50.
Remember, combining rebates with discounts or coupon codes depends on the retailer and/or rebate provider. If it’s an instant rebate, you’ll know if the discounts stack right away at checkout. If it’s a mail-in rebate, be sure to confirm eligibility before making your purchase.
Are Utility Rebates the same as Demand Response or Peak Rewards programs?
They are different! Utility rebates are discounts offered on the purchase of a Mysa, whereas Demand Response and Peak Rewards programs are based on reducing your energy usage for a few hours when the electricity grid is reaching capacity. Utilizing rebates for your smart thermostats does not automatically opt you or your Mysas into any Demand Response or Peak Rewards programs offered by your utility provider. The Mysa team will always communicate with you separately if your Mysas are eligible for any Demand Response or Peak Rewards programs, and you will always have the choice to opt in or out.
How to Find an Energy Rebate for My Area
You can view available rebates for Mysa Smart Thermostats on our website. Most are offered by utility providers in collaboration with their municipal, state, or provincial government.
If you don’t qualify for any of the rebates listed, sign up for our mailing list to be the first to know when new rebates become available. If you know of a rebate we haven’t featured, please let us know!
To discover what rebates are available for other types of energy-efficiency upgrades, like insulation, mini-split heat pumps, or smart light bulbs, we recommend contacting your utility provider or searching phrases like “energy rebates [insert city/state/province]” or “rebates on [insert product] [insert city/state/province]” in Google.