For a lot of families, there typically seems to be a long list of home improvement tasks that they want to get done or new ideas they’d like to give a shot. While a handful may not be necessities, furnace replacement is a task that might be vital to keeping your home comfortable during the colder months in Richmond.

Purchasing a new furnace is a sizeable investment. You’ll definitely feel the return-on-investment on your indoor comfort along with your utility costs, but it may be a little daunting at first. The good news is that when you purchase a new energy-efficient furnace, you could be approved 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 are required to purchase a furnace that has earned the ENERGY STAR label. Keep in mind it can’t be a furnace that is labeled ENERGY STAR for “U.S. South Only.” When researching furnace replacements, look for heat pumps with the ENERGY STAR rating so you can be confident you’re selecting a high-efficiency furnace.

At Refrigeration Systems Ltd., the experts will help you choose an option that fits your needs and helps you qualify for this tax credit. While ENERGY STAR products designate high efficiency, it’s important to clarify that the furnace you pick has an Annual Fuel Utilization Efficiency (AFUE) greater than 95, in order to qualify for the tax credit. AFUE represents the percent of heat produced for every dollar of fuel consumed.

Qualifying for the tax credit will not be the only savings you’ll find when you purchase 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 greater confidence in your HVAC system to maintain your indoor space at just the right temperature.

If you come across questions regarding your eligibility for a tax credit, or if there are other local savings you could be eligible for by purchasing a new high-efficiency furnace, give our teams at Refrigeration Systems Ltd. a call at 778-693-2532. You may also visit ENERGY STAR or contact your local utility organization if you have questions about other eligible home products.