For most homeowners, there always seems to be a lengthy list of home improvement to-do’s that they would like to do or new ideas they’d like to try. While several may not be necessities, furnace replacement is a project that could be vital to keeping your home comfortable through the colder months in West Columbia.
Purchasing a new furnace is a great investment. You’ll definitely feel the return-on-investment on your indoor comfort in addition to your energy costs, but it may be a tad overwhelming at first. The good news is that when you select 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 extended through December 31, 2020. In order to obtain the tax credit, you must buy 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 shopping for furnace replacements, look for products with the ENERGY STAR rating so you can be sure you’re picking a high-efficiency furnace.
At Tri City Fuel & Heating Co., Inc., we’ll help you select an option that fits your needs and makes sure you qualify for this tax credit. While ENERGY STAR products designate high efficiency, you’ll need to check the furnace you pick has an Annual Fuel Utilization Efficiency (AFUE) greater than 95, in order to qualify for the tax credit. AFUE indicates the percent of heat produced for every dollar of fuel consumed.
Qualifying for the tax credit will not be the only savings you’ll find when you select a new high-efficiency furnace. A lot of the most efficient models can save you hundreds of dollars on your utility costs all year long. And your family will also have higher confidence in your HVAC system to maintain your indoor space at just the right temperature.
If you come across questions concerning your eligibility for a tax credit, or if there are other local savings you might be eligible for by purchasing a new high-efficiency furnace, give our technicians at Tri City Fuel & Heating Co., Inc. a call at 803-265-4208. You may also visit ENERGY STAR or contact your local utility establishment if you have questions about other eligible home products.