For most households, there usually seems to be a large list of home improvement projects that they need to do or new ideas they’d like to give a shot. While a handful may not be necessary, furnace replacement is one project that could be critical to keeping your home comfortable throughout the colder months in Erie.
Selecting a new furnace is a sizeable investment. You’ll certainly feel the return-on-investment on your indoor comfort in addition to your energy costs, but it might be a little daunting 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 prolonged through December 31, 2020. In order to receive 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 browsing for furnace replacements, keep an eye out for solutions with the ENERGY STAR rating so you can be confident you’re picking a high-efficiency furnace.
At Patterson & Stirling Inc, we’ll help you find a solution that matches your needs and helps you qualify for this tax credit. While ENERGY STAR products designate high efficiency, you’ll need 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 indicates the percent of heat produced for every dollar of fuel consumed.
Qualifying for the tax credit won’t be the only savings you’ll find when you buy a new high-efficiency furnace. Some of the most efficient products can save you hundreds of dollars on your energy bills during the year. And your family will also have higher confidence in your HVAC system to keep your house at just the right temp.
If you think of questions about your eligibility for a tax credit, or if there are additional local savings you could be eligible for by getting a new high-efficiency furnace, give our professionals at Patterson & Stirling Inc a call at 814-308-0416. You may also visit ENERGY STAR or contact your local utility establishment if you have questions about other eligible home products.