For most families, there always seems to be a long list of home improvement tasks that they need to complete or new ideas they’d like to try. While a few may not be necessary, purchasing a new heat pump is an example of a project that could be critical to keeping your indoor space comfortable throughout the cooler months in Albuquerque.
Selecting a new heat pump is a large investment. You’ll certainly notice the return-on-investment on your indoor comfort in addition to your monthly bills, but it might be a bit overwhelming at first. The good news is that when you buy a new energy-efficient heat pump, 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 get the tax credit, you must purchase a heat pump that has gotten the ENERGY STAR label. When shopping for heat pumps, look for products with the ENERGY STAR rating so you can be confident you’re getting a high-efficiency heat pump.
At I-Deal HVAC, our experts help you find a solution that matches your needs and helps you qualify for this tax credit. While ENERGY STAR products designate high efficiency, it’s important to confirm the heat pump you pick has the following requirements.
For Split Systems:
- Heating Seasonal Performance Factor (HSPF): 8.5 or higher
- Energy Efficiency Ratio (EER): 12.5 or higher
- Seasonal Energy Efficiency Ratio (SEER): 15 or higher
For Package Systems:
- HSPF: 8 or higher
- EER: 12 or higher
- SEER: 14 or higher
Qualifying for the tax credit will not be the only savings you’ll observe when you select a new high-efficiency heat pump. Some of the most efficient solutions can save you hundreds of dollars on your utility costs throughout the year. And your household will also have more confidence in your HVAC system to keep your house at just the right temp.
When you think of 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 heat pump, give our pros at I-Deal HVAC a call at 505-445-1250. You can also visit ENERGY STAR or reach out to your local utility company if you have questions about other eligible home products.