For a lot of households, there usually seems to be a large list of home improvement projects that they need to get done or new ideas they’d like to give a shot. While several may not be necessities, furnace replacement is an example of a project that could be vital to keeping your home comfortable through the winter months in Wausau.
Purchasing a new furnace is a large investment. You’ll absolutely realize the return-on-investment on your indoor comfort as well as your utility costs, but it could be a little overwhelming at first. The good news is that when you shop for a new energy-efficient furnace, you might 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 receive the tax credit, you are required 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 researching furnace replacements, watch for products with the ENERGY STAR rating so you can be sure you’re picking a high-efficiency furnace.
At Gilray Heating and Cooling, our team can help you identify a solution that matches your needs and helps you qualify for this tax credit. While ENERGY STAR products signify high efficiency, you will want to confirm 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.
Taking advantage of this opportunity won’t be the only savings you’ll find when you get a new high-efficiency furnace. Some of the most efficient models can save you hundreds of dollars on your utility costs all year long. And you’ll also have higher confidence in your HVAC system to help your home stay at just the right temperature.
If you have questions about 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 experts at Gilray Heating and Cooling a call at 715-301-0727. You could also visit ENERGY STAR or contact your local utility establishment if you have questions about other eligible home products.