For most homeowners, there usually seems to be a large list of home improvement to-do’s that they need to get done or new ideas they’d like to give a shot. While a handful may not be required, furnace replacement is a project that may be key to keeping your home comfortable during the cooler months in New Castle.
Purchasing a new furnace is a large investment. You’ll certainly realize the return-on-investment on your indoor comfort along with your energy bills, but it could be a tad daunting at first. The good news is that when you purchase a new energy-efficient furnace, you could 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 have to 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 shopping for furnace replacements, watch for products with the ENERGY STAR rating so you can be sure you’re picking a high-efficiency furnace.
At Central Heating & Plumbing, the experts will help you determine a product that fits your needs and ensures you qualify for this tax credit. While ENERGY STAR products designate high efficiency, you’ll need to clarify that 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.
Taking advantage of this opportunity won’t be the only savings you’ll receive when you select a new high-efficiency furnace. A lot of the most efficient products can save you hundreds of dollars on your energy bills throughout the year. And your household will also have more confidence in your HVAC system to help your home stay at just the right temperature.
If you come across questions concerning 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 experts at Central Heating & Plumbing a call at 724-401-1843. You could also visit ENERGY STAR or contact your local utility organization if you have questions about other eligible home products.