Family enjoying the comfort of home

Can I earn a tax credit for my new furnace?

For a lot of homeowners, there always seems to be a long list of home improvement tasks that they would like to do or new ideas they’d like to try. While some may not be necessities, furnace replacement is an example of a job that might be critical to keeping your home comfortable throughout the cooler months in Marshfield.

Selecting a new furnace is a great investment. You’ll absolutely see the return-on-investment on your indoor comfort as well as your energy costs, but it could be a little overwhelming 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 receive the tax credit, you are required to select 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 solutions with the ENERGY STAR rating so you can be sure you’re picking a high-efficiency furnace.

At House of Heating Incorporated, we’ll help you find a product that matches your needs and ensures you qualify for this tax credit. While ENERGY STAR products designate high efficiency, you will want to confirm the furnace you select 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.

Taking advantage of this opportunity won’t be the only savings you’ll receive when you get a new high-efficiency furnace. Many of the most efficient furnaces can save you hundreds of dollars on your energy bills throughout the year. And your family will also have greater confidence in your HVAC system to keep your house at just the right comfort level.

If you have questions about your eligibility for a tax credit, or if there are additional local savings you may be eligible for by getting a new high-efficiency furnace, give our technicians at House of Heating Incorporated a call at 715-384-3163. You could also visit ENERGY STAR or contact your local utility organization if you have questions about other eligible home products.

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