For many households, there usually seems to be a lengthy list of home improvement tasks that they need to get done or new ideas they’d like to attempt. While several may not be required, furnace replacement is a job that might be critical to keeping your home comfortable during the winter months in West Jefferson.
Purchasing a new furnace is a large investment. You’ll absolutely see the return-on-investment on your indoor comfort as well as your utility costs, but it might be a tad intimidating at first. The good news is that when you buy 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 pushed through December 31, 2020. In order to receive the tax credit, you must purchase 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, watch for products with the ENERGY STAR rating so you can be sure you’re picking a high-efficiency furnace.
At West Jefferson Plumbing and Heating, Inc., we’ll help you select a solution that meets your needs and helps you qualify for this tax credit. While ENERGY STAR products signify high efficiency, you’ll need to clarify that 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.
This tax credit is not going to be the only savings you’ll receive when you purchase a new high-efficiency furnace. A lot of the most efficient furnaces can save you hundreds of dollars on your energy costs during the year. And you’ll also have greater confidence in your HVAC system to maintain your indoor space at just the right temp.
If you come across questions concerning your eligibility for a tax credit, or if there are other local savings you might be eligible for by purchasing a new high-efficiency furnace, give our experts at West Jefferson Plumbing and Heating, Inc. a call at 614-879-9091. You may also visit ENERGY STAR or contact your local utility establishment if you have questions about other eligible home products.