For many households, there always seems to be a large list of home improvement projects that they want to get done or new ideas they’d like to try. While several may not be necessities, furnace replacement is an example of a task that may be critical to keeping your home comfortable through the winter months in Columbus.
Getting a new furnace is a sizeable investment. You’ll certainly feel the return-on-investment on your indoor comfort in addition to your energy bills, but it may be a little overwhelming at first. The good news is that when you pick 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 pushed through December 31, 2020. In order to receive the tax credit, you must buy 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 browsing for furnace replacements, look for products with the ENERGY STAR rating so you can be confident you’re picking a high-efficiency furnace.
At Wolfe & Sons Heating and Cooling, our team can help you find an option that meets your needs and ensures you qualify for this tax credit. While ENERGY STAR products signify high efficiency, it’s important to check the furnace you pick 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.
Taking advantage of this opportunity will not be the only savings you’ll find 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 throughout the year. And you’ll also have higher confidence in your HVAC system to help your home stay at just the right temp.
If you think of questions about your eligibility for a tax credit, or if there are additional local savings you might be eligible for by getting a new high-efficiency furnace, give our teams at Wolfe & Sons Heating and Cooling a call at 614-451-0846. You could also visit ENERGY STAR or contact your local utility company if you have questions about other eligible home products.