For a lot of households, there always seems to be a long list of home improvement to-do’s that they need to achieve or new ideas they’d like to try. While a few may not be necessities, buying a new heat pump is one job that could be key to keeping your house comfortable throughout the cooler months in Auburn and Opelika.
Getting a new heat pump is a large investment. You’ll absolutely realize the return-on-investment on your indoor comfort in addition to your utility costs, but it might be a tad intimidating at first. The good news is that when you pick 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 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 browsing for heat pumps, watch for solutions with the ENERGY STAR rating so you can be confident you’re selecting a high-efficiency heat pump.
At Farnell Mechanical, Inc., we’ll help you pick a solution that fits your needs and helps you qualify for this tax credit. While ENERGY STAR products indicate high efficiency, you should 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 receive when you select a new high-efficiency heat pump. Some of the most efficient solutions can save you hundreds of dollars on your energy bills during the year. And the family will also have greater 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 additional local savings you might be eligible for by purchasing a new high-efficiency heat pump, give our pros at Farnell Mechanical, Inc. a call at 334-524-2458. You could also visit ENERGY STAR or reach out to your local utility company if you have questions about other eligible home products.