For most families, there typically seems to be a large list of home improvement tasks that they would like to get done or new ideas they’d like to try. While a handful may not be necessities, furnace replacement is an example of a job that may be vital to keeping your home comfortable through the colder months in St. Louis.
Purchasing a new furnace is a sizeable investment. You’ll definitely realize the return-on-investment on your indoor comfort as well as your energy bills, but it might be a tad daunting at first. The good news is that when you pick a new energy-efficient furnace, you may be eligible 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 receive 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 browsing for furnace replacements, look for products with the ENERGY STAR rating so you can be certain you’re selecting a high-efficiency furnace.
At Morgner Inc. Air Conditioning & Heating, the experts will help you determine a solution that meets your needs and ensures 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 indicates the percent of heat produced for every dollar of fuel consumed.
This tax credit 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 during the year. And your family will also have higher confidence in your HVAC system to help your home stay at just the right comfort level.
If you come across questions concerning your eligibility for a tax credit, or if there are other local savings you could be eligible for by getting a new high-efficiency furnace, give our teams at Morgner Inc. Air Conditioning & Heating a call at 314-262-4541. You can also visit ENERGY STAR or contact your local utility organization if you have questions about other eligible home products.