For a lot of families, there always 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 a handful may not be required, furnace replacement is a task that could be vital to keeping your home comfortable during the cooler months in Des Moines.
Getting a new furnace is a big investment. You’ll certainly recognize the return-on-investment on your indoor comfort in addition to your energy costs, but it could be a bit 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 prolonged through December 31, 2020. In order to obtain the tax credit, you must purchase a furnace that has earned the ENERGY STAR label. However, it can’t be a furnace that is labeled ENERGY STAR for “U.S. South Only.” When looking for furnace replacements, keep an eye out for heat pumps with the ENERGY STAR rating so you can be certain you’re selecting a high-efficiency furnace.
At Heartland Heating & Cooling, our team can help you choose a product that matches your needs and helps you qualify for this tax credit. While ENERGY STAR products designate high efficiency, you will want 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.
Qualifying for the tax credit is not going to be the only savings you’ll find when you select a new high-efficiency furnace. Some of the most efficient solutions 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 maintain your indoor space at just the right temp.
If you have questions concerning your eligibility for a tax credit, or if there are other local savings you might be eligible for by buying a new high-efficiency furnace, give our teams at Heartland Heating & Cooling a call at 515-344-3579. You could also visit ENERGY STAR or contact your local utility company if you have questions about other eligible home products.