Can I Earn Tax Credits for My New Furnace?

For many families, there always seems to be a lengthy list of home improvement projects that they need to complete or new ideas they’d like to try. While several may not be necessary, furnace replacement is a task that might be key to keeping your home comfortable through the colder months in Bend.

Purchasing a new furnace is a great investment. You’ll definitely realize the return-on-investment on your indoor comfort as well as your energy costs, but it could be a tad daunting 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 extended through December 31, 2020. In order to obtain the tax credit, you have to purchase 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 researching furnace replacements, keep an eye out for heat pumps with the ENERGY STAR rating so you can be sure you’re choosing a high-efficiency furnace.

At Tri County Climate Control LLC, the experts will help you find a solution that meets your needs and ensures you qualify for this tax credit. While ENERGY STAR products designate high efficiency, you’ll need to confirm 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 will not be the only savings you’ll find when you purchase a new high-efficiency furnace. A lot of the most efficient products can save you hundreds of dollars on your energy costs all year long. And your family will also have more confidence in your HVAC system to help your home stay at just the right comfort level.

If you think of questions about your eligibility for a tax credit, or if there are other local savings you may be eligible for by installing a new high-efficiency furnace, give our professionals at Tri County Climate Control LLC a call at 541-238-2797. You may also visit ENERGY STAR or contact your local utility organization if you have questions about other eligible home products.