For a lot of families, there always seems to be a large list of home improvement to-do’s that they want to complete or new ideas they’d like to attempt. While several may not be necessary, furnace replacement is an example of a task that may be vital to keeping your home comfortable during the colder months in Holdrege.
Selecting a new furnace is a great investment. You’ll certainly recognize the return-on-investment on your indoor comfort along with your energy costs, but it may be a tad overwhelming at first. The good news is that when you purchase a new energy-efficient furnace, you may be eligible 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 obtain the tax credit, you have to select 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, keep an eye out for products with the ENERGY STAR rating so you can be certain you’re selecting a high-efficiency furnace.
At Durable Service, we’ll help you choose an option that matches your needs and ensures you qualify for this tax credit. While ENERGY STAR products signify high efficiency, you will want to confirm 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.
This tax credit is not going to be the only savings you’ll receive when you purchase a new high-efficiency furnace. A lot of the most efficient furnaces can save you hundreds of dollars on your utility costs during the year. And your family will also have greater confidence in your HVAC system to maintain your indoor space at just the right temp.
If you think of questions regarding your eligibility for a tax credit, or if there are further local savings you may be eligible for by buying a new high-efficiency furnace, give our experts at Durable Service a call at 308-995-8177. You could also visit ENERGY STAR or contact your local utility company if you have questions about other eligible home products.