For most households, there typically seems to be a large list of home improvement projects that they need to get done or new ideas they’d like to give a shot. While several may not be required, furnace replacement is an example of a project that could be key to keeping your home comfortable through the cooler months in Phoenix.
Purchasing a new furnace is a great investment. You’ll certainly feel the return-on-investment on your indoor comfort in addition to your energy costs, but it might be a tad intimidating at first. The good news is that when you shop for 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 are required 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 shopping for furnace replacements, keep an eye out for solutions with the ENERGY STAR rating so you can be sure you’re choosing a high-efficiency furnace.
At Integrity AC & Heating LLC, our team can help you select an option that matches your needs and helps you qualify for this tax credit. While ENERGY STAR products indicate high efficiency, it’s important to check the furnace you select 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 will not be the only savings you’ll find when you get a new high-efficiency furnace. Many of the most efficient solutions can save you hundreds of dollars on your energy costs throughout the year. And you’ll also have higher confidence in your HVAC system to help your home stay 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 might be eligible for by buying a new high-efficiency furnace, give our experts at Integrity AC & Heating LLC a call at 602-971-0567. You can also visit ENERGY STAR or contact your local utility establishment if you have questions about other eligible home products.