For a lot of families, there always seems to be a lengthy list of home improvement to-do’s that they want to get done or new ideas they’d like to give a shot. While a handful may not be necessary, furnace replacement is a task that may be critical to keeping your home comfortable during the colder months in Lancaster.
Getting a new furnace is a large investment. You’ll definitely notice the return-on-investment on your indoor comfort along with your energy costs, but it may be a bit daunting at first. The good news is that when you pick 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 must buy 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 researching furnace replacements, look for heat pumps with the ENERGY STAR rating so you can be sure you’re selecting a high-efficiency furnace.
At Fairfield Heating & Cooling, our team can help you select an option that meets your needs and makes sure you qualify for this tax credit. While ENERGY STAR products signify high efficiency, it’s important to check the furnace you select 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.
Taking advantage of this opportunity will not be the only savings you’ll find when you get a new high-efficiency furnace. Some of the most efficient products can save you hundreds of dollars on your utility costs during the year. And your family will also have higher confidence in your HVAC system to help your home stay at just the right comfort level.
If you come across questions concerning your eligibility for a tax credit, or if there are additional local savings you may be eligible for by purchasing a new high-efficiency furnace, give our experts at Fairfield Heating & Cooling a call at 740-331-4331. You may also visit ENERGY STAR or contact your local utility establishment if you have questions about other eligible home products.