Can I Earn Tax Credits for My New Furnace?

For many families, there typically seems to be a large list of home improvement tasks that they need to do or new ideas they’d like to attempt. While a handful may not be necessary, furnace replacement is an example of a project that may be vital to keeping your home comfortable throughout the cooler months in Macon.

Buying a new furnace is a large investment. You’ll certainly notice the return-on-investment on your indoor comfort along with your utility costs, but it may be a little overwhelming at first. The good news is that when you pick a new energy-efficient furnace, you may be approved 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 obtain 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 researching furnace replacements, look for solutions with the ENERGY STAR rating so you can be sure you’re selecting a high-efficiency furnace.

At Air Temperature Control, the experts will help you identify an option that matches your needs and helps you qualify for this tax credit. While ENERGY STAR products designate high efficiency, you will want to clarify that the furnace you select 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 observe when you buy a new high-efficiency furnace. Many of the most efficient solutions can save you hundreds of dollars on your energy bills all year long. And your family will also have more confidence in your HVAC system to keep your house at just the right temperature.

If you come across questions about your eligibility for a tax credit, or if there are other local savings you might be eligible for by getting a new high-efficiency furnace, give our professionals at Air Temperature Control a call at 478-202-3170. You can also visit ENERGY STAR or contact your local utility establishment if you have questions about other eligible home products.