For many households, there usually seems to be a long list of home improvement projects that they need to do or new ideas they’d like to give a shot. While some may not be required, furnace replacement is an example of a job that may be critical to keeping your home comfortable through the winter months in Alliance.
Getting a new furnace is a big investment. You’ll absolutely recognize the return-on-investment on your indoor comfort along with your energy bills, but it might be a bit overwhelming at first. The good news is that when you select a new energy-efficient furnace, you may be eligible for a federal tax credit.
According to ENERGY STAR®, the Non-Business Energy Property Tax Credits were extended through December 31, 2020. In order to receive the tax credit, you have to buy a furnace that has earned the ENERGY STAR label. However, it can’t be a furnace that is labeled ENERGY STAR for “U.S. South Only.” When looking for furnace replacements, watch for solutions with the ENERGY STAR rating so you can be certain you’re choosing a high-efficiency furnace.
At Jack's Heating, Cooling, Stoves & Fireplaces, our team can help you find a solution that fits your needs and ensures you qualify for this tax credit. While ENERGY STAR products designate high efficiency, it’s important to clarify that the furnace you pick has an Annual Fuel Utilization Efficiency (AFUE) greater than 95, in order to qualify for the tax credit. AFUE means the percent of heat produced for every dollar of fuel consumed.
Qualifying for the tax credit won’t be the only savings you’ll observe when you buy a new high-efficiency furnace. Some of the most efficient models can save you hundreds of dollars on your energy costs throughout the year. And your family will also have more confidence in your HVAC system to help your home stay at just the right temp.
If you come across questions regarding 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 professionals at Jack's Heating, Cooling, Stoves & Fireplaces a call at 308-321-4703. You can also visit ENERGY STAR or contact your local utility establishment if you have questions about other eligible home products.