For a lot of homeowners, there usually seems to be a large list of home improvement projects that they would like to get done or new ideas they’d like to attempt. While several may not be required, furnace replacement is a project that may be critical to keeping your home comfortable through the winter months in McHenry.
Getting a new furnace is a sizeable investment. You’ll certainly notice the return-on-investment on your indoor comfort along with your energy costs, but it may be a bit intimidating at first. The good news is that when you pick a new energy-efficient furnace, you may be qualified for a federal tax credit.
According to ENERGY STAR®, the Non-Business Energy Property Tax Credits were pushed through December 31, 2020. In order to obtain the tax credit, you are required to select 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, keep an eye out for solutions with the ENERGY STAR rating so you can be certain you’re choosing a high-efficiency furnace.
At Jett's Heating & Air Inc., we’ll help you choose an option that matches your needs and makes sure you qualify for this tax credit. While ENERGY STAR products indicate high efficiency, you’ll need to confirm the furnace you pick 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 will not be the only savings you’ll find when you select a new high-efficiency furnace. Some of the most efficient solutions can save you hundreds of dollars on your energy bills throughout the year. And your family will also have higher confidence in your HVAC system to help your home stay at just the right temp.
If you come across questions regarding 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 teams at Jett's Heating & Air Inc. a call at 815-410-1128. You may also visit ENERGY STAR or contact your local utility establishment if you have questions about other eligible home products.