For a lot of homeowners, there always seems to be a long list of home improvement projects that they would like to get done or new ideas they’d like to do. While a few may not be necessary, purchasing a new heat pump is a project that could be key to keeping your house comfortable during the chillier months in Genoa.
Purchasing a new heat pump is a big investment. You’ll absolutely see the return on investment on your indoor comfort in addition to your monthly bills, but it may be a bit overwhelming at first. The good news is that when you select a new energy-efficient heat pump, you might 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 get the tax credit, you must purchase 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 sure you’re selecting a high-efficiency heat pump.
At Assured Appliance & Heating & Air, our experts help you choose 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 heat pump you purchase 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 will not be the only savings you’ll find when you get a new high-efficiency heat pump. Several of the most efficient models can save you hundreds of dollars on your utility costs throughout the year. And the family will also have greater confidence in your HVAC system to help your home stay at just the right temp.
When you have questions about your eligibility for a tax credit, or if there are further local savings you might be eligible for by installing a new high-efficiency heat pump, give our pros at Assured Appliance & Heating & Air a call at +1 847-293-0047. You can also visit ENERGY STAR or reach out to your local utility establishment if you have questions about other eligible home products.