Can I Earn a Tax Credit for My New Furnace?

For most families, there always seems to be a large list of home improvement projects that they need to complete or new ideas they’d like to try. While a handful may not be necessities, furnace replacement is one job that could be vital to keeping your home comfortable during the cooler months in Kearney.

Buying a new furnace is a great investment. You’ll certainly recognize the return-on-investment on your indoor comfort in addition to your utility costs, but it could be a bit daunting at first. The good news is that when you shop for a new energy-efficient furnace, you might be approved 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 receive the tax credit, you have to select a furnace that has earned the ENERGY STAR label. It cannot be a furnace that is labeled ENERGY STAR for “U.S. South Only.” When shopping for furnace replacements, look for products with the ENERGY STAR rating so you can be confident you’re choosing a high-efficiency furnace.

At Thurston Heating & Air Conditioning, our team can help you find a solution that meets your needs and ensures you qualify for this tax credit. While ENERGY STAR products signify high efficiency, it’s important 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 find when you buy a new high-efficiency furnace. A lot of the most efficient solutions can save you hundreds of dollars on your energy costs all year long. And your family will also have higher confidence in your HVAC system to help your home stay at just the right temp.

If you have questions concerning your eligibility for a tax credit, or if there are other local savings you may be eligible for by getting a new high-efficiency furnace, give our experts at Thurston Heating & Air Conditioning a call at 308-624-3485. You could also visit ENERGY STAR or contact your local utility establishment if you have questions about other eligible home products.