For a lot of homeowners, there usually seems to be a long list of home improvement tasks that they want to get done or new ideas they’d like to try. While some may not be necessities, furnace replacement is an example of a task that could be critical to keeping your home comfortable during the cooler months in Newark.
Buying a new furnace is a big investment. You’ll absolutely recognize the return-on-investment on your indoor comfort in addition to your energy bills, but it could be a bit overwhelming at first. The good news is that when you shop for a new energy-efficient furnace, you may be qualified 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 get the tax credit, you are required to buy 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 researching furnace replacements, keep an eye out for products with the ENERGY STAR rating so you can be confident you’re selecting a high-efficiency furnace.
At Luikart Heating & Cooling, our team can help you choose a solution that fits your needs and ensures you qualify for this tax credit. While ENERGY STAR products designate high efficiency, it’s important to clarify that the furnace you pick 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 receive when you purchase a new high-efficiency furnace. Some of the most efficient furnaces can save you hundreds of dollars on your energy bills during the year. And you’ll also have greater confidence in your HVAC system to maintain your indoor space at just the right temperature.
If you think of questions about your eligibility for a tax credit, or if there are other local savings you could be eligible for by getting a new high-efficiency furnace, give our professionals at Luikart Heating & Cooling a call at 740-200-5591. You can also visit ENERGY STAR or contact your local utility company if you have questions about other eligible home products.