For a lot of households, there typically seems to be a lengthy list of home improvement tasks that they would like to get done or new ideas they’d like to give a shot. While a handful may not be necessities, furnace replacement is a project that may be vital to keeping your home comfortable throughout the cooler months in Mount Pleasant.
Getting a new furnace is a sizeable investment. You’ll certainly notice the return-on-investment on your indoor comfort as well as your utility costs, but it could be a tad intimidating at first. The good news is that when you purchase a new energy-efficient furnace, you may 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 obtain the tax credit, you have to purchase a furnace that has earned the ENERGY STAR label. Keep in mind it can’t be a furnace that is labeled ENERGY STAR for “U.S. South Only.” When looking for furnace replacements, watch for products with the ENERGY STAR rating so you can be certain you’re picking a high-efficiency furnace.
At Olde Towne Heating & Air, the experts will help you identify a product that fits your needs and ensures you qualify for this tax credit. While ENERGY STAR products designate high efficiency, you’ll need 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 represents the percent of heat produced for every dollar of fuel consumed.
Qualifying for the tax credit is not going to be the only savings you’ll observe when you purchase a new high-efficiency furnace. Many of the most efficient products can save you hundreds of dollars on your energy bills all year long. And your family will also have more confidence in your HVAC system to help your home stay at just the right comfort level.
If you come across questions regarding your eligibility for a tax credit, or if there are further local savings you might be eligible for by purchasing a new high-efficiency furnace, give our teams at Olde Towne Heating & Air a call at 843-485-0967. You could also visit ENERGY STAR or contact your local utility establishment if you have questions about other eligible home products.