For most families, there typically seems to be a long list of home to-do’s that they would like to complete or new ideas they’d like to attempt. While some may not be necessities, purchasing a new heat pump is a job that could be key to keeping your indoor space comfortable during the chillier months in Mobile.
Selecting a new heat pump is a sizeable investment. You’ll certainly see the return-on-investment on your indoor comfort along with your energy bills, but it could be a tad overwhelming at first. The good news is that when you purchase a new energy-efficient heat pump, you might 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 receive the tax credit, you must purchase a heat pump that has received the ENERGY STAR label. When shopping for heat pumps, look for products with the ENERGY STAR rating so you can be confident you’re selecting a high-efficiency heat pump.
At Farnell Heating & Air Conditioning Inc, our team will help you pick a solution that meets your needs and helps you qualify for this tax credit. While ENERGY STAR products indicate high efficiency, you should confirm the heat pump you select 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
Qualifying for the tax credit won’t be the only savings you’ll observe when you buy a new high-efficiency heat pump. Many of the most efficient models can save you hundreds of dollars on your energy costs all year long. And the family will also have higher confidence in your HVAC system to help your home stay at just the right temperature.
Whether you think of questions about your eligibility for a tax credit, or if there are other local savings you may be eligible for by installing a new high-efficiency heat pump, give our experts at Farnell Heating & Air Conditioning Inc a call at 251-471-2674. You can also visit ENERGY STAR or reach out to your local utility organization if you have questions about other eligible home products.