For a lot of households, there always seems to be a lengthy list of home improvement tasks that they would like to get done or new ideas they’d like to give a shot. While some may not be necessities, furnace replacement is an example of a project that could be critical to keeping your home comfortable throughout the winter months in Marshfield.
Getting a new furnace is a great investment. You’ll certainly recognize the return-on-investment on your indoor comfort as well as your energy bills, but it may be a bit intimidating at first. The good news is that when you purchase a new energy-efficient furnace, you might be qualified 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 get 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, keep an eye out for solutions with the ENERGY STAR rating so you can be sure you’re selecting a high-efficiency furnace.
At House of Heating Incorporated, our team can help you find a product that matches your needs and ensures you qualify for this tax credit. While ENERGY STAR products indicate 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 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 purchase a new high-efficiency furnace. Many of the most efficient furnaces can save you hundreds of dollars on your energy costs all year long. And your household will also have more confidence in your HVAC system to keep your house at just the right comfort level.
If you come across questions regarding your eligibility for a tax credit, or if there are additional local savings you might be eligible for by purchasing a new high-efficiency furnace, give our experts at House of Heating Incorporated a call at 715-384-3163. You may also visit ENERGY STAR or contact your local utility organization if you have questions about other eligible home products.