Can I Get a Tax Credit for My New Furnace?

For many homeowners, 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 give a shot. While several may not be necessities, furnace replacement is a project that could be key to keeping your home comfortable throughout the winter months in Port St. Lucie.

Buying a new furnace is a sizeable investment. You’ll absolutely feel the return-on-investment on your indoor comfort along with your utility costs, but it might be a bit daunting at first. The good news is that when you shop for 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 prolonged through December 31, 2020. In order to get the tax credit, you are required to buy 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 shopping for furnace replacements, look for products with the ENERGY STAR rating so you can be sure you’re choosing a high-efficiency furnace.

At Custom Air Systems Inc, we’ll help you identify an option that fits 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 choose 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.

Qualifying for the tax credit won’t be the only savings you’ll receive when you get a new high-efficiency furnace. A lot of the most efficient products can save you hundreds of dollars on your energy bills during the year. And your family will also have higher confidence in your HVAC system to maintain your indoor space at just the right temp.

If you come across questions regarding your eligibility for a tax credit, or if there are other local savings you may be eligible for by installing a new high-efficiency furnace, give our technicians at Custom Air Systems Inc a call at 772-247-2283. You can also visit ENERGY STAR or contact your local utility establishment if you have questions about other eligible home products.