For a lot of households, there usually seems to be a long list of home improvement projects that they need to get done or new ideas they’d like to give a shot. While some may not be necessary, furnace replacement is an example of a project that could be vital to keeping your home comfortable throughout the winter months in Georgetown.
Buying a new furnace is a large investment. You’ll certainly feel the return-on-investment on your indoor comfort along with your energy bills, but it might be a tad overwhelming at first. The good news is that when you select 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 prolonged through December 31, 2020. In order to obtain 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 looking for furnace replacements, look for solutions with the ENERGY STAR rating so you can be sure you’re picking a high-efficiency furnace.
At Miller Climate Control LLC, our team can help you identify a product that fits your needs and makes sure you qualify for this tax credit. While ENERGY STAR products signify high efficiency, you’ll need to clarify that the furnace you pick has an Annual Fuel Utilization Efficiency (AFUE) greater than 95, in order to qualify for the tax credit. AFUE represents the percent of heat produced for every dollar of fuel consumed.
Qualifying for the tax credit will not be the only savings you’ll find when you purchase a new high-efficiency furnace. Some of the most efficient solutions can save you hundreds of dollars on your energy costs throughout the year. And you’ll also have more confidence in your HVAC system to help your home stay at just the right comfort level.
If you think of questions about your eligibility for a tax credit, or if there are further local savings you could be eligible for by installing a new high-efficiency furnace, give our teams at Miller Climate Control LLC a call at 512-937-2001. You can also visit ENERGY STAR or contact your local utility company if you have questions about other eligible home products.