For many families, there typically seems to be a large list of home improvement projects that they need to get done or new ideas they’d like to try. While some may not be necessary, furnace replacement is one task that might be vital to keeping your home comfortable during the winter months in McKinney and Frisco.
Selecting a new furnace is a big investment. You’ll certainly realize the return-on-investment on your indoor comfort as well as your utility costs, but it could be a bit overwhelming at first. The good news is that when you buy a new energy-efficient furnace, you could be qualified 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 have to buy 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 heat pumps with the ENERGY STAR rating so you can be certain you’re selecting a high-efficiency furnace.
At Bell Mechanical Services, we’ll help you choose an option that fits your needs and makes sure you qualify for this tax credit. While ENERGY STAR products signify high efficiency, you will want 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 means the percent of heat produced for every dollar of fuel consumed.
Taking advantage of this opportunity won’t be the only savings you’ll find when you get a new high-efficiency furnace. Many of the most efficient models can save you hundreds of dollars on your utility costs during the year. And your family will also have higher confidence in your HVAC system to keep your house at just the right comfort level.
If you have questions concerning your eligibility for a tax credit, or if there are further local savings you could be eligible for by installing a new high-efficiency furnace, give our technicians at Bell Mechanical Services a call at 888-863-0560. You could also visit ENERGY STAR or contact your local utility organization if you have questions about other eligible home products.