Can I Earn Tax Credits for My New Furnace?

For a lot of homeowners, there typically seems to be a long list of home improvement projects that they would like to complete or new ideas they’d like to attempt. While a handful may not be required, furnace replacement is one task that might be critical to keeping your home comfortable through the colder months in Temple/Belton .

Purchasing a new furnace is a large investment. You’ll absolutely realize the return-on-investment on your indoor comfort as well as your energy bills, but it could be a tad intimidating at first. The good news is that when you purchase 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 get the tax credit, you must purchase 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 shopping for furnace replacements, watch for heat pumps with the ENERGY STAR rating so you can be certain you’re choosing a high-efficiency furnace.

At Bell Air Conditioning Inc, the experts will help you select a product that matches your needs and makes sure you qualify for this tax credit. While ENERGY STAR products indicate high efficiency, it’s important to check the furnace you select 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.

Taking advantage of this opportunity is not going to be the only savings you’ll observe when you purchase a new high-efficiency furnace. Many of the most efficient furnaces 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 think of questions regarding your eligibility for a tax credit, or if there are further local savings you may be eligible for by getting a new high-efficiency furnace, give our technicians at Bell Air Conditioning Inc a call at 254-307-9572. You may also visit ENERGY STAR or contact your local utility company if you have questions about other eligible home products.