For most homeowners, there always seems to be a long list of home improvement to-do’s that they need to do or new ideas they’d like to attempt. While a handful may not be required, furnace replacement is a job that may be critical to keeping your home comfortable throughout the colder months in Bishop.
Selecting a new furnace is a great investment. You’ll absolutely recognize the return-on-investment on your indoor comfort in addition to your energy bills, but it may be a bit intimidating at first. The good news is that when you purchase a new energy-efficient furnace, you might 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 receive the tax credit, you have to purchase a furnace that has earned the ENERGY STAR label. However, it can’t be a furnace that is labeled ENERGY STAR for “U.S. South Only.” When shopping for furnace replacements, look for solutions with the ENERGY STAR rating so you can be certain you’re picking a high-efficiency furnace.
At Bishop Heating & Air Conditioning, our team can help you choose a solution that fits your needs and helps you qualify for this tax credit. While ENERGY STAR products designate high efficiency, you’ll need 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 means the percent of heat produced for every dollar of fuel consumed.
This tax credit is not going to be the only savings you’ll observe when you get a new high-efficiency furnace. A lot of the most efficient furnaces can save you hundreds of dollars on your energy bills all year long. And you’ll also have higher confidence in your HVAC system to maintain your indoor space at just the right temp.
If you think of questions about your eligibility for a tax credit, or if there are further local savings you may be eligible for by installing a new high-efficiency furnace, give our teams at Bishop Heating & Air Conditioning a call at 760-784-9034. You can also visit ENERGY STAR or contact your local utility organization if you have questions about other eligible home products.