For most households, there typically seems to be a long list of home improvement projects that they need to complete or new ideas they’d like to attempt. While a handful may not be necessities, furnace replacement is an example of a task that may be key to keeping your home comfortable through the winter months in Lawrence.
Getting a new furnace is a big investment. You’ll absolutely feel the return-on-investment on your indoor comfort along with your energy costs, but it may be a tad 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 pushed through December 31, 2020. In order to obtain the tax credit, you have to buy a furnace that has earned the ENERGY STAR label. It cannot be a furnace that is labeled ENERGY STAR for “U.S. South Only.” When looking for furnace replacements, keep an eye out for products with the ENERGY STAR rating so you can be confident you’re picking a high-efficiency furnace.
At Scott Temperature, the experts will help you choose a solution that meets your needs and makes sure you qualify for this tax credit. While ENERGY STAR products indicate 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 represents the percent of heat produced for every dollar of fuel consumed.
This tax credit will not be the only savings you’ll find when you get a new high-efficiency furnace. A lot of the most efficient solutions can save you hundreds of dollars on your utility costs throughout the year. And you’ll also have more confidence in your HVAC system to keep your house at just the right comfort level.
If you come across questions about your eligibility for a tax credit, or if there are other local savings you could be eligible for by getting a new high-efficiency furnace, give our teams at Scott Temperature a call at 785-269-0465. You may also visit ENERGY STAR or contact your local utility establishment if you have questions about other eligible home products.