For a lot of homeowners, there typically seems to be a lengthy list of house to-do’s that they want to complete or new ideas they’d like to try. While several may not be required, getting a new heat pump is an example of a job that could be vital to keeping your home comfortable throughout the cooler months in Elk River.
Selecting a new heat pump is a sizeable investment. You’ll absolutely recognize the return on investment on your indoor comfort as well as your utility costs, but it could be a tad overwhelming at first. The good news is that when you pick a new energy-efficient heat pump, you may 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 receive the tax credit, you must select a heat pump that has earned the ENERGY STAR label. When browsing for heat pumps, watch for types with the ENERGY STAR rating so you can be sure you’re getting a high-efficiency heat pump.
At Home Comfort Heating & Air, we’ll help you choose a solution that meets your needs and makes sure you qualify for this tax credit. While ENERGY STAR products indicate high efficiency, you should confirm the heat pump you pick 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 buy a new high-efficiency heat pump. Some of the most efficient heat pumps can save you hundreds of dollars on your energy bills during the year. And the family will also have more confidence in your HVAC system to keep your house at just the right temperature.
If you come across questions about your eligibility for a tax credit, or if there are additional local savings you might be eligible for by installing a new high-efficiency heat pump, give our experts at Home Comfort Heating & Air a call at 763-276-0617. You can also visit ENERGY STAR or contact your local utility organization if you have questions about other eligible home products.