For many homeowners, there usually seems to be a long list of home improvement projects that they want to get done or new ideas they’d like to try. While several may not be necessary, furnace replacement is a job that might be critical to keeping your home comfortable throughout the colder months in Wisconsin Rapids.
Purchasing a new furnace is a large investment. You’ll certainly recognize the return-on-investment on your indoor comfort in addition to your energy bills, but it may be a bit overwhelming at first. The good news is that when you select a new energy-efficient furnace, you might be qualified 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 select 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 looking for furnace replacements, keep an eye out for heat pumps with the ENERGY STAR rating so you can be confident you’re picking a high-efficiency furnace.
At Rapids Sheet Metal Works Inc, our team can help you choose a solution that meets your needs and makes sure you qualify for this tax credit. While ENERGY STAR products indicate high efficiency, you’ll need 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.
Qualifying for the tax credit won’t be the only savings you’ll find when you buy a new high-efficiency furnace. A lot of the most efficient models can save you hundreds of dollars on your energy bills during the year. And you’ll also have more confidence in your HVAC system to help your home stay at just the right temp.
If you have questions regarding your eligibility for a tax credit, or if there are additional local savings you could be eligible for by purchasing a new high-efficiency furnace, give our teams at Rapids Sheet Metal Works Inc a call at 715-301-0256. You can also visit ENERGY STAR or contact your local utility establishment if you have questions about other eligible home products.