For most homeowners, there typically seems to be a lengthy list of home improvement projects that they would like to complete or new ideas they’d like to attempt. While several may not be necessities, furnace replacement is one task that could be key to keeping your home comfortable during the winter months in Rapid City.
Getting a new furnace is a sizeable investment. You’ll certainly recognize the return-on-investment on your indoor comfort in addition to your energy bills, but it may be a little overwhelming at first. The good news is that when you shop for a new energy-efficient furnace, you could 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 must purchase 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 researching furnace replacements, look for products with the ENERGY STAR rating so you can be confident you’re choosing a high-efficiency furnace.
At Street Heating and Cooling, the experts will help you select an option that fits your needs and makes sure you qualify for this tax credit. While ENERGY STAR products indicate 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.
This tax credit won’t be the only savings you’ll receive when you get a new high-efficiency furnace. Some of the most efficient furnaces can save you hundreds of dollars on your energy costs all year long. And you’ll also have more confidence in your HVAC system to maintain your indoor space at just the right temp.
If you think of questions concerning your eligibility for a tax credit, or if there are further local savings you might be eligible for by installing a new high-efficiency furnace, give our experts at Street Heating and Cooling a call at 605-206-3915. You could also visit ENERGY STAR or contact your local utility establishment if you have questions about other eligible home products.