For a lot of homeowners, there always seems to be a long list of home improvement projects that they need to complete or new ideas they’d like to attempt. While some may not be necessities, furnace replacement is one task that may be vital to keeping your home comfortable through the winter months in Moline.
Buying a new furnace is a sizeable investment. You’ll definitely feel the return-on-investment on your indoor comfort in addition to your energy bills, but it may be a little daunting at first. The good news is that when you purchase a new energy-efficient furnace, you might 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 get the tax credit, you have to buy 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 heat pumps with the ENERGY STAR rating so you can be sure you’re choosing a high-efficiency furnace.
At J.L. Brady Company LLC, we’ll help you choose an option that fits your needs and makes sure you qualify for this tax credit. While ENERGY STAR products designate high efficiency, you’ll need to check the furnace you select 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.
Qualifying for the tax credit won’t be the only savings you’ll find when you purchase 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 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 may be eligible for by purchasing a new high-efficiency furnace, give our experts at J.L. Brady Company LLC a call at 309-517-7511. You could also visit ENERGY STAR or contact your local utility company if you have questions about other eligible home products.