Can I Receive Tax Credits for My New Furnace?

For a lot of households, there always seems to be a large list of home improvement to-do’s that they need to do or new ideas they’d like to attempt. While a handful may not be necessary, furnace replacement is one project that could be key to keeping your home comfortable throughout the cooler months in Macon.

Getting a new furnace is a great investment. You’ll absolutely recognize the return-on-investment on your indoor comfort as well as your utility costs, but it could be a bit daunting at first. The good news is that when you buy a new energy-efficient furnace, you could 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 are required 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 shopping for furnace replacements, look for products with the ENERGY STAR rating so you can be confident you’re choosing a high-efficiency furnace.

At Air Temperature Control, the experts will help you find a product 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 select 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 won’t be the only savings you’ll find when you get a new high-efficiency furnace. Some of the most efficient furnaces can save you hundreds of dollars on your energy costs throughout the year. And your household will also have greater confidence in your HVAC system to help your home stay at just the right temperature.

If you think of questions regarding your eligibility for a tax credit, or if there are further local savings you could be eligible for by buying a new high-efficiency furnace, give our experts at Air Temperature Control a call at 478-202-3170. You can also visit ENERGY STAR or contact your local utility establishment if you have questions about other eligible home products.