For a lot of families, there always seems to be a large list of home improvement to-do’s that they want to complete or new ideas they’d like to try. While several may not be necessities, furnace replacement is a job that might be vital to keeping your home comfortable through the winter months in South Beloit and Belvidere.
Getting a new furnace is a big investment. You’ll definitely feel the return-on-investment on your indoor comfort along with your utility costs, but it might be a bit overwhelming at first. The good news is that when you select 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 receive the tax credit, you have to buy 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 solutions with the ENERGY STAR rating so you can be certain you’re selecting a high-efficiency furnace.
At Fleming Heating & Air Conditioning Inc, we’ll help you choose a product that matches your needs and helps you qualify for this tax credit. While ENERGY STAR products signify high efficiency, you will want to clarify that 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.
This tax credit is not going to be the only savings you’ll receive when you get a new high-efficiency furnace. A lot of the most efficient solutions can save you hundreds of dollars on your energy bills all year long. And your household will also have higher confidence in your HVAC system to keep your house at just the right temp.
If you come across questions about 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 professionals at Fleming Heating & Air Conditioning Inc a call at 877-389-2465. You can also visit ENERGY STAR or contact your local utility organization if you have questions about other eligible home products.