For most homeowners, there typically seems to be a lengthy list of home improvement projects that they need to complete or new ideas they’d like to try. While a handful may not be required, furnace replacement is an example of a project that might be vital to keeping your home comfortable through the colder months in Phoenix.
Getting a new furnace is a large investment. You’ll certainly see the return-on-investment on your indoor comfort along with your energy bills, but it could be a bit intimidating at first. The good news is that when you purchase a new energy-efficient furnace, you may be qualified 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. Keep in mind it can’t be a furnace that is labeled ENERGY STAR for “U.S. South Only.” When researching furnace replacements, watch for heat pumps with the ENERGY STAR rating so you can be certain you’re choosing a high-efficiency furnace.
At Integrity AC & Heating LLC, we’ll help you choose a solution that fits your needs and makes sure you qualify for this tax credit. While ENERGY STAR products signify high efficiency, you’ll need to clarify that the furnace you pick 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 purchase a new high-efficiency furnace. Many of the most efficient solutions can save you hundreds of dollars on your utility costs during the year. And your household will also have higher confidence in your HVAC system to maintain your indoor space at just the right temperature.
If you come across questions concerning your eligibility for a tax credit, or if there are other local savings you could be eligible for by purchasing a new high-efficiency furnace, give our teams at Integrity AC & Heating LLC a call at 602-971-0567. You can also visit ENERGY STAR or contact your local utility organization if you have questions about other eligible home products.