For many families, there always seems to be a large list of home improvement tasks that they want to get done or new ideas they’d like to try. While several may not be necessary, furnace replacement is one job that could be vital to keeping your home comfortable during the winter months in Mobile.
Selecting a new furnace is a large investment. You’ll definitely notice the return-on-investment on your indoor comfort along with your energy bills, but it could be a tad intimidating at first. The good news is that when you shop for 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 extended through December 31, 2020. In order to obtain the tax credit, you must buy 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 looking for furnace replacements, keep an eye out for heat pumps with the ENERGY STAR rating so you can be sure you’re picking a high-efficiency furnace.
At Farnell Heating & Air Conditioning Inc, we’ll help you determine an option that meets your needs and ensures you qualify for this tax credit. While ENERGY STAR products designate high efficiency, it’s important to check 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.
This tax credit is not going to be the only savings you’ll find when you get a new high-efficiency furnace. Some of the most efficient products can save you hundreds of dollars on your utility costs throughout 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 think of questions about your eligibility for a tax credit, or if there are other local savings you may be eligible for by purchasing a new high-efficiency furnace, give our technicians at Farnell Heating & Air Conditioning Inc a call at 251-471-2674. You could also visit ENERGY STAR or contact your local utility organization if you have questions about other eligible home products.