Can I Earn Tax Credits for My New Furnace?

For most homeowners, there always seems to be a lengthy list of home improvement tasks that they want to complete or new ideas they’d like to attempt. While a handful may not be necessities, furnace replacement is an example of a project that might be vital to keeping your home comfortable during the winter months in Omaha.

Purchasing a new furnace is a great investment. You’ll absolutely realize the return-on-investment on your indoor comfort as well as your energy costs, but it could be a bit overwhelming at first. The good news is that when you buy 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 must purchase 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 looking for furnace replacements, watch for solutions with the ENERGY STAR rating so you can be certain you’re choosing a high-efficiency furnace.

At Interstate Heating & Air Conditioning, we’ll help you select a product that matches your needs and ensures you qualify for this tax credit. While ENERGY STAR products indicate high efficiency, it’s important to confirm 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 find when you select a new high-efficiency furnace. Some of the most efficient products can save you hundreds of dollars on your utility costs during the year. And your family will also have greater confidence in your HVAC system to keep your house 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 might be eligible for by getting a new high-efficiency furnace, give our professionals at Interstate Heating & Air Conditioning a call at 402-509-5940. You could also visit ENERGY STAR or contact your local utility company if you have questions about other eligible home products.