Can I Earn Tax Credits for My New Furnace?

For a lot of households, there always seems to be a long list of home improvement projects that they need to get done or new ideas they’d like to attempt. While a handful may not be necessary, furnace replacement is one project that may be key to keeping your home comfortable through the winter months in Columbus.

Purchasing a new furnace is a sizeable investment. You’ll definitely see the return-on-investment on your indoor comfort in addition to your energy costs, but it might be a little intimidating at first. The good news is that when you select 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 prolonged through December 31, 2020. In order to obtain the tax credit, you must select 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, watch for heat pumps with the ENERGY STAR rating so you can be confident you’re selecting a high-efficiency furnace.

At Classic Air, the experts will help you identify a solution that matches your needs and ensures you qualify for this tax credit. While ENERGY STAR products indicate high efficiency, it’s important 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 means the percent of heat produced for every dollar of fuel consumed.

Taking advantage of this opportunity won’t be the only savings you’ll observe when you select a new high-efficiency furnace. A lot of the most efficient furnaces can save you hundreds of dollars on your energy costs all year long. And you’ll also have higher confidence in your HVAC system to keep your house at just the right comfort level.

If you come across questions concerning your eligibility for a tax credit, or if there are further local savings you could be eligible for by installing a new high-efficiency furnace, give our professionals at Classic Air a call at 614-210-3041. You can also visit ENERGY STAR or contact your local utility establishment if you have questions about other eligible home products.