Can I receive a tax credit for my new furnace?

April 08, 2020

For most families, there usually seems to be a lengthy list of home improvement tasks that they want to do or new ideas they’d like to give a shot. While some may not be required, furnace replacement is one project that may be key to keeping your home comfortable throughout the colder months in Pella.

Selecting a new furnace is a large investment. You’ll absolutely notice the return-on-investment on your indoor comfort along with your energy costs, but it might be a bit overwhelming at first. The good news is that when you shop for 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 extended 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, keep an eye out for solutions with the ENERGY STAR rating so you can be sure you’re picking a high-efficiency furnace.

At Van Haaften Plumbing & Heating, the experts will help you find a product that meets your needs and ensures you qualify for this tax credit. While ENERGY STAR products designate high efficiency, you’ll need 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 receive when you get a new high-efficiency furnace. Some of the most efficient furnaces can save you hundreds of dollars on your utility costs all year long. And your household will also have higher confidence in your HVAC system to help your home stay at just the right temperature.

If you come across questions concerning your eligibility for a tax credit, or if there are additional local savings you could be eligible for by installing a new high-efficiency furnace, give our experts at Van Haaften Plumbing & Heating a call at 641-628-3621. You may also visit ENERGY STAR or contact your local utility company if you have questions about other eligible home products.

For most families, there usually seems to be a lengthy list of home improvement tasks that they want to do or new ideas they’d like to give a shot. While some may not be required, furnace replacement is one project that may be key to keeping your home comfortable throughout the colder months in Pella. Selecting a new furnace is a large investment. You’ll absolutely notice the return-on-investment on your indoor comfort along with your energy costs, but it might be a bit overwhelming at first. The good news is that when you shop for 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 extended 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, keep an eye out for solutions with the ENERGY STAR rating so you can be sure you’re picking a high-efficiency furnace. At Van Haaften Plumbing & Heating, the experts will help you find a product that meets your needs and ensures you qualify for this tax credit. While ENERGY STAR products designate high efficiency, you’ll need 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 receive when you get a new high-efficiency furnace. Some of the most efficient furnaces can save you hundreds of dollars on your utility costs all year long. And your household will also have higher confidence in your HVAC system to help your home stay at just the right temperature. If you come across questions concerning your eligibility for a tax credit, or if there are additional local savings you could be eligible for by installing a new high-efficiency furnace, give our experts at Van Haaften Plumbing & Heating a call at 641-628-3621. You may also visit ENERGY STAR or contact your local utility company if you have questions about other eligible home products.">