For many families, there typically seems to be a large list of home improvement tasks that they want to get done or new ideas they’d like to attempt. While some may not be necessary, furnace replacement is one task that may be key to keeping your home comfortable during the cooler months in Libertyville.
Selecting a new furnace is a large investment. You’ll absolutely recognize the return-on-investment on your indoor comfort in addition to your energy bills, but it may be a little intimidating at first. The good news is that when you purchase a new energy-efficient furnace, you may be eligible 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 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 looking for furnace replacements, watch for products with the ENERGY STAR rating so you can be confident you’re selecting a high-efficiency furnace.
At TopTec Heating, Cooling, Plumbing & Electrical, the experts will help you find a solution that matches your needs and makes sure you qualify for this tax credit. While ENERGY STAR products designate high efficiency, it’s important to clarify that 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 won’t be the only savings you’ll receive when you select a new high-efficiency furnace. Some of the most efficient models can save you hundreds of dollars on your utility costs throughout the year. And your household will also have higher confidence in your HVAC system to keep your house at just the right temperature.
If you think of questions concerning your eligibility for a tax credit, or if there are additional local savings you might be eligible for by getting a new high-efficiency furnace, give our technicians at TopTec Heating, Cooling, Plumbing & Electrical a call at 847-362-0262. You can also visit ENERGY STAR or contact your local utility company if you have questions about other eligible home products.