For most families, there typically seems to be a large list of home tasks that they want to complete or new ideas they’d like to attempt. While several may not be necessary, purchasing a new heat pump is an example of a task that could be key to keeping your home comfortable through the cooler months in Branchville.
Purchasing a new heat pump is a large investment. You’ll definitely see the return on investment on your indoor comfort along with your energy bills, but it may be a tad intimidating at first. The good news is that when you select a new energy-efficient heat pump, 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 get the tax credit, you must select a heat pump that has earned the ENERGY STAR label. When shopping for heat pumps, look for products with the ENERGY STAR rating so you can be sure you’re selecting a high-efficiency heat pump.
At Willco Air Conditioning, Refrigeration & Heating Inc., our team will help you choose a solution that fits your needs and makes sure you qualify for this tax credit. While ENERGY STAR products signify high efficiency, you’ll need to confirm the heat pump you choose has the following requirements.
For Split Systems:
- Heating Seasonal Performance Factor (HSPF): 8.5 or higher
- Energy Efficiency Ratio (EER): 12.5 or higher
- Seasonal Energy Efficiency Ratio (SEER): 15 or higher
For Package Systems:
- HSPF: 8 or higher
- EER: 12 or higher
- SEER: 14 or higher
This tax credit won’t be the only savings you’ll find when you get a new high-efficiency heat pump. Some of the most efficient heat pumps can save you hundreds of dollars on your energy bills throughout the year. And the family will also have more confidence in your HVAC system to help your home stay at just the right temp.
If you have questions concerning your eligibility for a tax credit, or if there are further local savings you might be eligible for by getting a new high-efficiency heat pump, give our experts at Willco Air Conditioning, Refrigeration & Heating Inc. a call at 862-345-6896. You can also visit ENERGY STAR or contact your local utility organization if you have questions about other eligible home products.