For most families, there always seems to be a long list of home improvement tasks that they want to get done or new ideas they’d like to try. While some may not be necessities, furnace replacement is a job that may be key to keeping your home comfortable through the cooler months in Laurel.
Purchasing a new furnace is a large investment. You’ll definitely feel the return-on-investment on your indoor comfort as well as your utility costs, but it might be a tad overwhelming at first. The good news is that when you shop for a new energy-efficient furnace, you may be qualified 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 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 browsing for furnace replacements, keep an eye out for solutions with the ENERGY STAR rating so you can be confident you’re choosing a high-efficiency furnace.
At H&C Heating and Cooling, our team can help you select a product that matches your needs and helps you qualify for this tax credit. While ENERGY STAR products designate high efficiency, it’s important to confirm the furnace you choose 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.
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 solutions can save you hundreds of dollars on your energy costs during the year. And you’ll also have higher confidence in your HVAC system to help your home stay 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 could be eligible for by purchasing a new high-efficiency furnace, give our technicians at H&C Heating and Cooling a call at 301-960-3247. You may also visit ENERGY STAR or contact your local utility company if you have questions about other eligible home products.