For most families, there typically seems to be a long list of home improvement to-do’s that they want to get done or new ideas they’d like to try. While some may not be necessities, furnace replacement is one task that might be key to keeping your home comfortable through the colder months in Branchville.
Purchasing a new furnace is a sizeable investment. You’ll definitely notice the return-on-investment on your indoor comfort in addition to your energy bills, but it might be a tad daunting at first. The good news is that when you purchase a new energy-efficient furnace, you could be qualified 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 get 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 browsing for furnace replacements, look for products with the ENERGY STAR rating so you can be confident you’re selecting a high-efficiency furnace.
At Willco Air Conditioning, Refrigeration & Heating Inc., our team can help you identify a product that meets your needs and helps you qualify for this tax credit. While ENERGY STAR products signify high efficiency, it’s important to check 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 is not going to be the only savings you’ll observe when you purchase a new high-efficiency furnace. Many of the most efficient solutions can save you hundreds of dollars on your utility costs all year long. And your household will also have higher confidence in your HVAC system to keep your house at just the right temp.
If you think of questions regarding your eligibility for a tax credit, or if there are additional local savings you might be eligible for by getting a new high-efficiency furnace, give our professionals at Willco Air Conditioning, Refrigeration & Heating Inc. a call at 862-345-6896. You could also visit ENERGY STAR or contact your local utility company if you have questions about other eligible home products.