Family enjoying the comfort of home

Can I get a tax credit for my new furnace?

For a lot of homeowners, there typically seems to be a lengthy list of home improvement to-do’s that they need to do or new ideas they’d like to attempt. While some may not be necessary, furnace replacement is a job that could be vital to keeping your home comfortable throughout the cooler months in Columbus.

Purchasing a new furnace is a big investment. You’ll certainly recognize the return-on-investment on your indoor comfort along with your utility costs, but it could be a tad intimidating at first. The good news is that when you shop for a new energy-efficient furnace, you may 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 obtain the tax credit, you are required to 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 shopping for furnace replacements, look for heat pumps with the ENERGY STAR rating so you can be certain 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 makes sure you qualify for this tax credit. While ENERGY STAR products indicate high efficiency, it’s important 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 indicates the percent of heat produced for every dollar of fuel consumed.

Taking advantage of this opportunity won’t be the only savings you’ll receive when you buy a new high-efficiency furnace. A lot of the most efficient models can save you hundreds of dollars on your energy bills throughout the year. And your household will also have more confidence in your HVAC system to help your home stay at just the right temperature.

If you come across questions regarding your eligibility for a tax credit, or if there are other local savings you could 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 may also visit ENERGY STAR or contact your local utility company if you have questions about other eligible home products.

Back To Blog