Can I Get Tax Credits for My New Furnace?

For most families, there usually seems to be a lengthy list of home improvement tasks that they would like to complete or new ideas they’d like to attempt. While a handful may not be necessary, furnace replacement is an example of a project that may be critical to keeping your home comfortable through the cooler months in Reinholds.

Buying a new furnace is a large investment. You’ll absolutely recognize the return-on-investment on your indoor comfort along with your utility costs, but it might be a bit overwhelming at first. The good news is that when you buy a new energy-efficient furnace, you may be approved 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. Keep in mind it can’t be a furnace that is labeled ENERGY STAR for “U.S. South Only.” When looking for furnace replacements, watch for heat pumps with the ENERGY STAR rating so you can be sure you’re selecting a high-efficiency furnace.

At County Line Mechanical LLC, our team can help you select an option that fits your needs and makes sure you qualify for this tax credit. While ENERGY STAR products signify high efficiency, you will want 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 indicates the percent of heat produced for every dollar of fuel consumed.

Qualifying for the tax credit is not going to be the only savings you’ll observe when you buy a new high-efficiency furnace. A lot of the most efficient models can save you hundreds of dollars on your energy costs throughout the year. And you’ll also have greater confidence in your HVAC system to keep your house at just the right temperature.

If you think of questions regarding your eligibility for a tax credit, or if there are further local savings you could be eligible for by buying a new high-efficiency furnace, give our professionals at County Line Mechanical LLC a call at 717-216-0846. You may also visit ENERGY STAR or contact your local utility establishment if you have questions about other eligible home products.