Can I Receive Tax Credits for My New Furnace?

For many homeowners, there typically seems to be a lengthy list of home improvement tasks that they need to get done or new ideas they’d like to try. While several may not be necessities, furnace replacement is a task that might be vital to keeping your home comfortable through the colder months in Norco and St. Charles Parish.

Selecting a new furnace is a sizeable investment. You’ll certainly feel the return-on-investment on your indoor comfort in addition to your energy bills, 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 prolonged through December 31, 2020. In order to receive the tax credit, you are required to buy 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, watch for solutions with the ENERGY STAR rating so you can be certain you’re selecting a high-efficiency furnace.

At Mayeuxs AC & Heating, the experts will help you find an option that fits your needs and helps you qualify for this tax credit. While ENERGY STAR products designate high efficiency, it’s important to confirm 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.

Qualifying for the tax credit is not going to be the only savings you’ll observe when you buy a new high-efficiency furnace. A lot of the most efficient solutions can save you hundreds of dollars on your utility costs throughout the year. And your household will also have more confidence in your HVAC system to maintain your indoor space at just the right comfort level.

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 installing a new high-efficiency furnace, give our technicians at Mayeuxs AC & Heating a call at (985) 764-2426. You could also visit ENERGY STAR or contact your local utility establishment if you have questions about other eligible home products.