For many homeowners, there typically seems to be a large list of home improvement to-do’s that they need to do 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 may be key to keeping your home comfortable throughout the cooler months in Rockford.
Getting a new furnace is a great investment. You’ll certainly realize the return-on-investment on your indoor comfort in addition to your energy costs, but it could be a bit intimidating at first. The good news is that when you pick a new energy-efficient furnace, you might 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 obtain the tax credit, you must select a furnace that has earned the ENERGY STAR label. It cannot be a furnace that is labeled ENERGY STAR for “U.S. South Only.” When looking for furnace replacements, watch for heat pumps with the ENERGY STAR rating so you can be confident you’re picking a high-efficiency furnace.
At Temperature Doctors Heating & Cooling, Inc, we’ll help you select a solution that fits your needs and helps you qualify for this tax credit. While ENERGY STAR products designate 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 represents the percent of heat produced for every dollar of fuel consumed.
Taking advantage of this opportunity is not going to be the only savings you’ll receive when you select a new high-efficiency furnace. Some of the most efficient solutions can save you hundreds of dollars on your utility costs all year long. And your family will also have greater confidence in your HVAC system to maintain your indoor space at just the right temperature.
If you come across questions regarding your eligibility for a tax credit, or if there are further local savings you could be eligible for by getting a new high-efficiency furnace, give our technicians at Temperature Doctors Heating & Cooling, Inc a call at (815)914-6197. You can also visit ENERGY STAR or contact your local utility company if you have questions about other eligible home products.