For many homeowners, there typically seems to be a lengthy list of home improvement to-do’s that they need to get done or new ideas they’d like to try. While some may not be necessities, furnace replacement is one task that may be vital to keeping your home comfortable during the cooler months in Dresden.
Buying a new furnace is a large investment. You’ll definitely notice the return-on-investment on your indoor comfort along with your energy bills, but it may be a little daunting at first. The good news is that when you select a new energy-efficient furnace, you might be approved for a federal tax credit.
According to ENERGY STAR®, the Non-Business Energy Property Tax Credits were prolonged through December 31, 2020. In order to receive the tax credit, you have to purchase a furnace that has earned the ENERGY STAR label. Keep in mind it can’t be a furnace that is labeled ENERGY STAR for “U.S. South Only.” When researching furnace replacements, watch for heat pumps with the ENERGY STAR rating so you can be certain you’re choosing a high-efficiency furnace.
At McFadden Heating & Cooling, our team can help you choose an option that matches your needs and makes sure you qualify for this tax credit. While ENERGY STAR products signify high efficiency, it’s important to confirm the furnace you pick has an Annual Fuel Utilization Efficiency (AFUE) greater than 95, in order to qualify for the tax credit. AFUE indicates the percent of heat produced for every dollar of fuel consumed.
This tax credit won’t be the only savings you’ll observe when you buy a new high-efficiency furnace. A lot of the most efficient products can save you hundreds of dollars on your utility costs all year long. And your family will also have more confidence in your HVAC system to keep your house at just the right temperature.
If you think of questions concerning your eligibility for a tax credit, or if there are additional local savings you may be eligible for by purchasing a new high-efficiency furnace, give our experts at McFadden Heating & Cooling a call at 1-866-781-0111. You can also visit ENERGY STAR or contact your local utility organization if you have questions about other eligible home products.