For a lot of families, there usually seems to be a lengthy list of home improvement to-do’s that they would like to complete or new ideas they’d like to attempt. While a handful may not be necessary, furnace replacement is one project that could be critical to keeping your home comfortable during the cooler months in Odessa.
Buying a new furnace is a large investment. You’ll definitely recognize the return-on-investment on your indoor comfort along with your energy costs, but it may be a little intimidating at first. The good news is that when you purchase a new energy-efficient furnace, you could be eligible for a federal tax credit.
According to ENERGY STAR®, the Non-Business Energy Property Tax Credits were extended through December 31, 2020. In order to receive the tax credit, you are required 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 shopping for furnace replacements, look for solutions with the ENERGY STAR rating so you can be sure you’re choosing a high-efficiency furnace.
At Redhawk Heating & Air Conditioning, we’ll help you determine an option that fits your needs and makes sure you qualify for this tax credit. While ENERGY STAR products indicate high efficiency, you’ll need to check 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.
Taking advantage of this opportunity is not going to be the only savings you’ll find when you select a new high-efficiency furnace. Some of the most efficient products can save you hundreds of dollars on your energy costs during the year. And your family will also have more 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 further local savings you might be eligible for by buying a new high-efficiency furnace, give our technicians at Redhawk Heating & Air Conditioning a call at 432-237-0168. You may also visit ENERGY STAR or contact your local utility establishment if you have questions about other eligible home products.