For many homeowners, there typically seems to be a long list of home improvement to-do’s that they need to get done or new ideas they’d like to try. While some may not be necessary, furnace replacement is one job that could be key to keeping your home comfortable through the cooler months in Albuquerque.
Selecting a new furnace is a big investment. You’ll certainly notice the return-on-investment on your indoor comfort in addition to your energy bills, but it could be a tad intimidating at first. The good news is that when you shop for a new energy-efficient furnace, you could be approved 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 must 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, watch for products with the ENERGY STAR rating so you can be certain you’re choosing a high-efficiency furnace.
At I-Deal HVAC, we’ll help you select a product that fits your needs and helps you qualify for this tax credit. While ENERGY STAR products indicate high efficiency, it’s important 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 indicates the percent of heat produced for every dollar of fuel consumed.
This tax credit will not be the only savings you’ll find when you get a new high-efficiency furnace. Some of the most efficient models can save you hundreds of dollars on your utility costs during the year. And you’ll also have higher confidence in your HVAC system to maintain your indoor space at just the right temperature.
If you come across questions about your eligibility for a tax credit, or if there are further local savings you could be eligible for by getting a new high-efficiency furnace, give our experts at I-Deal HVAC a call at 505-445-1250. You may also visit ENERGY STAR or contact your local utility company if you have questions about other eligible home products.