For a lot of homeowners, there usually seems to be a long list of home improvement projects that they want to do or new ideas they’d like to try. While several may not be necessary, furnace replacement is a project that could be critical to keeping your home comfortable throughout the colder months in Chadron.
Purchasing a new furnace is a great investment. You’ll absolutely see the return-on-investment on your indoor comfort in addition to your energy bills, but it may be a tad daunting at first. The good news is that when you purchase a new energy-efficient furnace, you could be qualified 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 receive the tax credit, you are required to select 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, keep an eye out for solutions with the ENERGY STAR rating so you can be confident you’re selecting a high-efficiency furnace.
At MPC Heating & Cooling, the experts will help you determine a solution that fits your needs and makes sure you qualify for this tax credit. While ENERGY STAR products indicate high efficiency, you’ll need to clarify that the furnace you choose 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 will not be the only savings you’ll observe when you get a new high-efficiency furnace. A lot of the most efficient models can save you hundreds of dollars on your energy costs all year long. And you’ll also have greater confidence in your HVAC system to keep your house at just the right comfort level.
If you come across questions regarding your eligibility for a tax credit, or if there are additional local savings you could be eligible for by getting a new high-efficiency furnace, give our professionals at MPC Heating & Cooling a call at 308-832-4321. You could also visit ENERGY STAR or contact your local utility organization if you have questions about other eligible home products.