For most families, there always seems to be a long list of home improvement tasks that they want to complete or new ideas they’d like to try. While some may not be necessary, furnace replacement is an example of a project that could be vital to keeping your home comfortable during the colder months in Columbia.
Getting a new furnace is a great investment. You’ll absolutely realize the return-on-investment on your indoor comfort along with your energy bills, but it might be a bit overwhelming at first. The good news is that when you select a new energy-efficient furnace, you may 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 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, look for products with the ENERGY STAR rating so you can be confident you’re selecting a high-efficiency furnace.
At Watts Electric & AC, the experts will help you find an option that matches your needs and ensures you qualify for this tax credit. While ENERGY STAR products signify high efficiency, it’s important to confirm the furnace you pick 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 will not be the only savings you’ll observe when you select a new high-efficiency furnace. Some of the most efficient models can save you hundreds of dollars on your energy costs all year long. And your household will also have higher confidence in your HVAC system to help your home stay at just the right comfort level.
If you think of questions about your eligibility for a tax credit, or if there are other local savings you may be eligible for by installing a new high-efficiency furnace, give our technicians at Watts Electric & AC a call at 601-736-7362. You may also visit ENERGY STAR or contact your local utility company if you have questions about other eligible home products.