Family enjoying the comfort of home

Can I receive a tax credit for my new furnace?

For a lot of families, there typically seems to be a long list of home improvement tasks that they would like to get done or new ideas they’d like to try. While a handful may not be necessary, furnace replacement is one task that may be vital to keeping your home comfortable throughout the winter months in Rock Hill.

Purchasing a new furnace is a sizeable investment. You’ll definitely recognize the return-on-investment on your indoor comfort as well as your energy bills, but it might be a tad overwhelming at first. The good news is that when you pick a new energy-efficient furnace, you could 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 get the tax credit, you must purchase 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 certain you’re selecting a high-efficiency furnace.

At US Air Heating and Cooling, our team can help you find a product that meets your needs and ensures you qualify for this tax credit. While ENERGY STAR products signify high efficiency, you’ll need 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 means the percent of heat produced for every dollar of fuel consumed.

Taking advantage of this opportunity will not be the only savings you’ll observe when you select a new high-efficiency furnace. Many of the most efficient models can save you hundreds of dollars on your utility costs during the year. And your household will also have greater confidence in your HVAC system to maintain your indoor space at just the right comfort level.

If you come across questions about 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 teams at US Air Heating and Cooling a call at 803-220-0761. You may also visit ENERGY STAR or contact your local utility organization if you have questions about other eligible home products.

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