Can I Earn Tax Credits for My New Furnace?

For a lot of households, there typically seems to be a large list of home improvement projects that they want to get done or new ideas they’d like to give a shot. While several may not be necessities, furnace replacement is a task that may be key to keeping your home comfortable throughout the colder months in Temple/Belton .

Selecting a new furnace is a large investment. You’ll certainly notice the return-on-investment on your indoor comfort as well as your energy bills, but it may be a little overwhelming at first. The good news is that when you select a new energy-efficient furnace, you could be eligible 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 get the tax credit, you are required to purchase 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, look for products with the ENERGY STAR rating so you can be confident you’re choosing a high-efficiency furnace.

At Bell Air Conditioning Inc, the experts will help you determine a product that meets your needs and helps you qualify for this tax credit. While ENERGY STAR products signify high efficiency, you’ll need to clarify that 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 receive when you select a new high-efficiency furnace. Many of the most efficient solutions can save you hundreds of dollars on your energy bills during the year. And your family will also have greater confidence in your HVAC system to help your home stay at just the right comfort level.

If you have questions concerning your eligibility for a tax credit, or if there are additional local savings you might be eligible for by buying a new high-efficiency furnace, give our technicians at Bell Air Conditioning Inc a call at 254-307-9572. You could also visit ENERGY STAR or contact your local utility establishment if you have questions about other eligible home products.