Can I Get Tax Credits for My New Furnace?

For a lot of households, there always seems to be a long 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 required, furnace replacement is one task that might be vital to keeping your home comfortable throughout the colder months in Thousand Palms.

Selecting a new furnace is a great investment. You’ll certainly see the return-on-investment on your indoor comfort along with your energy costs, but it may be a tad intimidating at first. The good news is that when you purchase 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 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. However, it can’t 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 sure you’re selecting a high-efficiency furnace.

At Marios Air Conditioning, we’ll help you find an option that matches your needs and makes sure you qualify for this tax credit. While ENERGY STAR products designate high efficiency, you will want to clarify that the furnace you select has an Annual Fuel Utilization Efficiency (AFUE) greater than 95, in order to qualify for the tax credit. AFUE represents 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 get a new high-efficiency furnace. Many of the most efficient products can save you hundreds of dollars on your energy costs throughout the year. And you’ll also have greater confidence in your HVAC system to maintain your indoor space at just the right temperature.

If you have questions concerning your eligibility for a tax credit, or if there are additional local savings you could be eligible for by getting a new high-efficiency furnace, give our teams at Marios Air Conditioning a call at 760-314-4766. You could also visit ENERGY STAR or contact your local utility establishment if you have questions about other eligible home products.