Can I Earn Tax Credits for My New Furnace?

For a lot of homeowners, there typically seems to be a large list of home improvement projects that they would like to complete or new ideas they’d like to try. While some may not be necessities, furnace replacement is an example of a task that might be vital to keeping your home comfortable throughout the colder months in Phoenix.

Buying a new furnace is a sizeable investment. You’ll absolutely recognize the return-on-investment on your indoor comfort along with your utility costs, but it could be a bit overwhelming at first. The good news is that when you pick a new energy-efficient furnace, you could be approved for a federal tax credit.

According to ENERGY STAR®, the Non-Business Energy Property Tax Credits were prolonged through December 31, 2020. In order to receive 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 browsing for furnace replacements, watch for products with the ENERGY STAR rating so you can be certain you’re choosing a high-efficiency furnace.

At Integrity AC & Heating LLC, the experts will help you identify a solution that meets 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.

Taking advantage of this opportunity is not going to be the only savings you’ll find when you buy a new high-efficiency furnace. Some of the most efficient models can save you hundreds of dollars on your energy bills during the year. And you’ll also have more confidence in your HVAC system to keep your house at just the right temp.

If you think of questions concerning your eligibility for a tax credit, or if there are further local savings you could be eligible for by installing a new high-efficiency furnace, give our professionals at Integrity AC & Heating LLC a call at 602-971-0567. You can also visit ENERGY STAR or contact your local utility company if you have questions about other eligible home products.