For most households, there always seems to be a large list of house tasks that they want to achieve or new ideas they’d like to try. While several may not be necessary, buying a new heat pump is an example of a job that could be critical to keeping your house comfortable during the chillier months in Newark.

Purchasing a new heat pump is a large investment. You’ll certainly notice the return on investment on your indoor comfort as well as your monthly bills, but it could be a little overwhelming at first. The good news is that when you pick a new energy-efficient heat pump, you could be approved for a federal tax credit.

According to ENERGY STAR®, the Non-Business Energy Property Tax Credits were extended through December 31, 2020. In order to receive the tax credit, you must purchase a heat pump that has received the ENERGY STAR label. When researching heat pumps, look for types with the ENERGY STAR rating so you can be sure you’re choosing a high-efficiency heat pump.

At Luikart Heating & Cooling, our team will help you select a solution that fits your needs and helps you qualify for this tax credit. While ENERGY STAR products designate high efficiency, you should confirm the heat pump you purchase has the following requirements.

For Split Systems:

  • Heating Seasonal Performance Factor (HSPF): 8.5 or higher
  • Energy Efficiency Ratio (EER): 12.5 or higher
  • Seasonal Energy Efficiency Ratio (SEER): 15 or higher

For Package Systems:

  • HSPF: 8 or higher
  • EER: 12 or higher
  • SEER: 14 or higher

This tax credit will not be the only savings you’ll receive when you get a new high-efficiency heat pump. Several of the most efficient heat pumps can save you hundreds of dollars on your energy bills all year long. And your household will also have more confidence in your HVAC system to help your home stay at just the right comfort level.

If you come across questions regarding your eligibility for a tax credit, or if there are further local savings you could be eligible for by installing a new high-efficiency heat pump, give our pros at Luikart Heating & Cooling a call at 740-200-5591. You may also visit ENERGY STAR or call your local utility company if you have questions about other eligible home products.