Family enjoying the comfort of home

Can I get a tax credit for my new furnace?

For many families, there typically seems to be a lengthy list of home improvement projects that they need to do or new ideas they’d like to try. While a handful may not be necessary, furnace replacement is one task that might be key to keeping your home comfortable through the colder months in Carpentersville.

Buying a new furnace is a large investment. You’ll absolutely notice the return-on-investment on your indoor comfort along with your energy bills, but it could be a tad overwhelming at first. The good news is that when you purchase a new energy-efficient furnace, you may 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 get the tax credit, you are required to 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 browsing for furnace replacements, watch for solutions with the ENERGY STAR rating so you can be sure you’re choosing a high-efficiency furnace.

At Controlled Comfort HVAC Inc, we’ll help you determine a solution that meets your needs and makes sure you qualify for this tax credit. While ENERGY STAR products indicate high efficiency, it’s important to clarify that the furnace you pick 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 get a new high-efficiency furnace. A lot of the most efficient models can save you hundreds of dollars on your energy costs throughout the year. And your household will also have more confidence in your HVAC system to help your home stay at just the right comfort level.

If you come across questions about your eligibility for a tax credit, or if there are additional local savings you may be eligible for by buying a new high-efficiency furnace, give our professionals at Controlled Comfort HVAC Inc a call at 224-699-9229. You can also visit ENERGY STAR or contact your local utility establishment if you have questions about other eligible home products.

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