For most homeowners, there always seems to be a lengthy list of home improvement tasks that they would like to get done or new ideas they’d like to give a shot. While several may not be required, furnace replacement is an example of a project that could be key to keeping your home comfortable through the colder months in Chadron.
Buying a new furnace is a big investment. You’ll certainly realize the return-on-investment on your indoor comfort along with your energy bills, but it may be a tad intimidating at first. The good news is that when you pick 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 get the tax credit, you must select 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 researching furnace replacements, watch for heat pumps with the ENERGY STAR rating so you can be confident you’re selecting a high-efficiency furnace.
At MPC Heating & Cooling, our team can help you identify a product that fits your needs and helps you qualify for this tax credit. While ENERGY STAR products indicate high efficiency, it’s important 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 represents the percent of heat produced for every dollar of fuel consumed.
Qualifying for the tax credit won’t be the only savings you’ll observe when you get a new high-efficiency furnace. Many of the most efficient furnaces can save you hundreds of dollars on your energy bills during the year. And you’ll also have more confidence in your HVAC system to help your home stay at just the right temp.
If you come across questions concerning your eligibility for a tax credit, or if there are further local savings you might be eligible for by installing a new high-efficiency furnace, give our experts at MPC Heating & Cooling a call at 308-832-4321. You can also visit ENERGY STAR or contact your local utility establishment if you have questions about other eligible home products.