For a lot of families, there usually seems to be a large list of home improvement to-do’s that they need to complete or new ideas they’d like to give a shot. While a handful may not be required, furnace replacement is an example of a task that might be key to keeping your home comfortable throughout the colder months in Branchville.
Purchasing a new furnace is a big investment. You’ll absolutely see the return-on-investment on your indoor comfort in addition to your energy costs, but it could be a tad intimidating at first. The good news is that when you select a new energy-efficient furnace, you could be approved for a federal tax credit.
According to ENERGY STAR®, the Non-Business Energy Property Tax Credits were pushed through December 31, 2020. In order to obtain the tax credit, you must buy 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 looking for furnace replacements, look for products with the ENERGY STAR rating so you can be certain you’re choosing a high-efficiency furnace.
At Willco Air Conditioning, Refrigeration & Heating Inc., our team can help you choose a product that matches your needs and ensures you qualify for this tax credit. While ENERGY STAR products indicate high efficiency, you’ll need 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.
This tax credit will not be the only savings you’ll find when you select a new high-efficiency furnace. Many of the most efficient solutions can save you hundreds of dollars on your energy costs all year long. And you’ll also have greater confidence in your HVAC system to help your home stay at just the right temperature.
If you have questions concerning your eligibility for a tax credit, or if there are additional local savings you could be eligible for by getting a new high-efficiency furnace, give our teams at Willco Air Conditioning, Refrigeration & Heating Inc. a call at 862-345-6896. You may also visit ENERGY STAR or contact your local utility establishment if you have questions about other eligible home products.