For a lot of homeowners, there usually seems to be a large list of home improvement to-do’s that they would like to do or new ideas they’d like to attempt. While several may not be necessities, furnace replacement is one task that may be vital to keeping your home comfortable during the colder months in Crystal and Twin Cities.
Getting a new furnace is a great investment. You’ll absolutely feel the return-on-investment on your indoor comfort in addition to your utility costs, but it may be a little daunting at first. The good news is that when you buy a new energy-efficient furnace, you may be approved 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 get the tax credit, you must buy 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 researching furnace replacements, look for products with the ENERGY STAR rating so you can be sure you’re picking a high-efficiency furnace.
At GV Heating & Air, our team can help you select a product that meets your needs and makes sure you qualify for this tax credit. While ENERGY STAR products signify high efficiency, it’s important to check the furnace you choose 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.
Qualifying for the tax credit won’t be the only savings you’ll receive when you buy a new high-efficiency furnace. Many of the most efficient furnaces can save you hundreds of dollars on your energy bills during the year. 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 could be eligible for by buying a new high-efficiency furnace, give our technicians at GV Heating & Air a call at 763-535-2000. You may also visit ENERGY STAR or contact your local utility company if you have questions about other eligible home products.