For most households, there typically seems to be a long list of home tasks that they need to achieve or new ideas they’d like to attempt. While some may not be necessary, purchasing a new heat pump is a task that could be key to keeping your house comfortable during the colder months in Holbrook.
Selecting a new heat pump is a great investment. You’ll absolutely see the return on investment on your indoor comfort along with your monthly bills, but it might be a little daunting at first. The good news is that when you purchase 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 extended through December 31, 2020. In order to obtain the tax credit, you must purchase a heat pump that has received the ENERGY STAR label. When researching heat pumps, watch for products with the ENERGY STAR rating so you can be certain you’re selecting a high-efficiency heat pump.
At Fal-Ken Heating & Cooling Corporation, our experts help you find a solution that matches your needs and ensures you qualify for this tax credit. While ENERGY STAR products indicate high efficiency, you’ll need to 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 is not going to be the only savings you’ll observe when you get a new high-efficiency heat pump. Some of the most efficient heat pumps can save you hundreds of dollars on your utility costs during the year. And the family will also have higher confidence in your HVAC system to keep your house at just the right comfort level.
Whether you have questions regarding your eligibility for a tax credit, or if there are further local savings you could be eligible for by purchasing a new high-efficiency heat pump, give our pros at Fal-Ken Heating & Cooling Corporation a call at 631-460-5159. You may also visit ENERGY STAR or call your local utility company if you have questions about other eligible home products.