For a lot of families, there always seems to be a large list of home improvement to-do’s that they would like to do or new ideas they’d like to give a shot. While some may not be necessary, furnace replacement is an example of a project that could be key to keeping your home comfortable throughout the winter months in Marshalltown.
Buying a new furnace is a large investment. You’ll certainly realize the return-on-investment on your indoor comfort as well as your energy costs, but it may be a little daunting at first. The good news is that when you select a new energy-efficient furnace, you could be qualified for a federal tax credit.
According to ENERGY STAR®, the Non-Business Energy Property Tax Credits were prolonged through December 31, 2020. In order to obtain the tax credit, you have 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 shopping for furnace replacements, look for solutions with the ENERGY STAR rating so you can be sure you’re choosing a high-efficiency furnace.
At Kapaun & Brown, our team can help you identify a product that matches your needs and ensures you qualify for this tax credit. While ENERGY STAR products indicate high efficiency, you will want to clarify that the furnace you choose 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 is not going to be the only savings you’ll receive when you select a new high-efficiency furnace. Some of the most efficient models can save you hundreds of dollars on your energy bills during 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 about your eligibility for a tax credit, or if there are further local savings you might be eligible for by getting a new high-efficiency furnace, give our teams at Kapaun & Brown a call at 641-812-2028. You may also visit ENERGY STAR or contact your local utility organization if you have questions about other eligible home products.