Can I Get Tax Credits for My New Furnace?

For most families, there usually seems to be a large list of home improvement projects that they want to do or new ideas they’d like to try. While some may not be necessities, furnace replacement is a job that could be vital to keeping your home comfortable through the winter months in Northglenn.

Selecting a new furnace is a large investment. You’ll certainly see the return-on-investment on your indoor comfort in addition to your energy costs, but it may be a bit daunting at first. The good news is that when you pick 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 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 researching furnace replacements, look for solutions with the ENERGY STAR rating so you can be confident you’re selecting a high-efficiency furnace.

At Northglenn Heating & Air Conditioning, the experts will help you select a solution that fits your needs and helps you qualify for this tax credit. While ENERGY STAR products indicate high efficiency, it’s important 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 is not going to be the only savings you’ll receive when you select a new high-efficiency furnace. Many of the most efficient solutions 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 help your home stay at just the right temp.

If you have questions about your eligibility for a tax credit, or if there are further local savings you could be eligible for by installing a new high-efficiency furnace, give our teams at Northglenn Heating & Air Conditioning a call at 303-452-4146. You may also visit ENERGY STAR or contact your local utility organization if you have questions about other eligible home products.