For most families, there usually seems to be a long list of home improvement to-do’s that they would like to complete or new ideas they’d like to attempt. While a few may not be required, buying a new heat pump is an example of a task that could be critical to keeping your indoor space comfortable throughout the cooler months in Wausau.
Getting a new heat pump is a large investment. You’ll certainly realize the return on investment on your indoor comfort in addition to your utility costs, but it might be a bit daunting at first. The good news is that when you purchase a new energy-efficient heat pump, you may be qualified for a federal tax credit.
According to ENERGY STAR®, the Non-Business Energy Property Tax Credits were pushed through December 31, 2020. In order to receive the tax credit, you must select a heat pump that has gotten the ENERGY STAR label. When shopping for heat pumps, look for types with the ENERGY STAR rating so you can be certain you’re getting a high-efficiency heat pump.
At Gilray Heating and Cooling, our experts help you pick a solution that matches your needs and helps you qualify for this tax credit. While ENERGY STAR products indicate high efficiency, you’ll need to confirm the heat pump you buy 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
Qualifying for the tax credit won’t be the only savings you’ll observe when you select 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 maintain your indoor space at just the right comfort level.
Whether you come across questions regarding your eligibility for a tax credit, or if there are further local savings you might be eligible for by getting a new high-efficiency heat pump, give our pros at Gilray Heating and Cooling a call at 715-301-0727. You can also visit ENERGY STAR or reach out to your local utility establishment if you have questions about other eligible home products.