For a lot of families, there usually seems to be a long list of home projects that they want to get done or new ideas they’d like to try. While several may not be necessities, purchasing a new heat pump is an example of a task that could be critical to keeping your home comfortable through the chillier months in Saint Louis.
Selecting a new heat pump is a big investment. You’ll definitely see the return on investment on your indoor comfort in addition to your monthly bills, but it might be a little intimidating at first. The good news is that when you purchase a new energy-efficient heat pump, you could be eligible 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 heat pump that has gotten the ENERGY STAR label. When researching heat pumps, keep an eye out for products with the ENERGY STAR rating so you can be certain you’re selecting a high-efficiency heat pump.
At Morgner Inc. Air Conditioning & Heating, we’ll help you pick a solution that meets your needs and helps you qualify for this tax credit. While ENERGY STAR products indicate high efficiency, it’s important to confirm the heat pump you choose has the following requirements.
For Split Systems:
- Heating Seasonal Performance Factor (HSPF): 8.5 or higher
- Energy Efficiency Ratio (EER): 12.5 or higher
- Seasonal Energy Efficiency Ratio (SEER): 15 or higher
For Package Systems:
- HSPF: 8 or higher
- EER: 12 or higher
- SEER: 14 or higher
This tax credit will not be the only savings you’ll receive when you get a new high-efficiency heat pump. Several of the most efficient solutions can save you hundreds of dollars on your energy bills during the year. And the family will also have higher confidence in your HVAC system to keep your house at just the right comfort level.
If you have 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 heat pump, give our experts at Morgner Inc. Air Conditioning & Heating a call at 314-262-4541. You could also visit ENERGY STAR or reach out to your local utility company if you have questions about other eligible home products.