Can I Receive a Tax Credit for My New Furnace?

For most homeowners, there usually seems to be a large list of home improvement tasks that they need to do or new ideas they’d like to attempt. While several may not be required, furnace replacement is a job that may be critical to keeping your home comfortable throughout the cooler months in Norco and St. Charles Parish.

Getting a new furnace is a great investment. You’ll certainly realize the return-on-investment on your indoor comfort along with your energy costs, but it could be a tad overwhelming at first. The good news is that when you pick a new energy-efficient furnace, you may be qualified 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 get the tax credit, you have to 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, watch for products with the ENERGY STAR rating so you can be sure you’re selecting a high-efficiency furnace.

At Mayeuxs AC & Heating, the experts will help you identify a solution that fits your needs and ensures you qualify for this tax credit. While ENERGY STAR products signify 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 will not be the only savings you’ll receive when you purchase a new high-efficiency furnace. A lot of the most efficient models can save you hundreds of dollars on your energy costs throughout the year. And your household will also have higher confidence in your HVAC system to keep your house at just the right comfort level.

If you come across questions regarding your eligibility for a tax credit, or if there are additional local savings you may be eligible for by purchasing a new high-efficiency furnace, give our experts at Mayeuxs AC & Heating a call at (985) 764-2426. You could also visit ENERGY STAR or contact your local utility organization if you have questions about other eligible home products.