For a lot of families, there always seems to be a lengthy list of home improvement to-do’s that they need to do or new ideas they’d like to attempt. While several may not be necessities, furnace replacement is an example of a job that could be critical to keeping your home comfortable through the cooler months in Bend.
Buying 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 could be a bit overwhelming at first. The good news is that when you shop for 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 pushed through December 31, 2020. In order to receive the tax credit, you must purchase a furnace that has earned the ENERGY STAR label. However, 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 selecting a high-efficiency furnace.
At Tri County Climate Control LLC, we’ll help you select an option that meets your needs and makes sure you qualify for this tax credit. While ENERGY STAR products designate high efficiency, you will want 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 indicates the percent of heat produced for every dollar of fuel consumed.
Qualifying for the tax credit will not be the only savings you’ll find when you select a new high-efficiency furnace. Many of the most efficient models can save you hundreds of dollars on your utility costs throughout the year. And your household will also have more confidence in your HVAC system to keep your house at just the right temperature.
If you think of questions about your eligibility for a tax credit, or if there are additional local savings you may be eligible for by buying a new high-efficiency furnace, give our experts at Tri County Climate Control LLC a call at 541-238-2797. You can also visit ENERGY STAR or contact your local utility establishment if you have questions about other eligible home products.