For most homeowners, there usually seems to be a large list of home improvement tasks that they need to complete or new ideas they’d like to attempt. While several may not be necessary, purchasing a new heat pump is one project that could be vital to keeping your home comfortable through the colder months in Booneville.
Buying a new heat pump is a sizeable investment. You’ll certainly feel the return on investment on your indoor comfort as well as your energy bills, but it may be a little daunting at first. The good news is that when you select a new energy-efficient heat pump, you could be qualified 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 select a heat pump that has earned the ENERGY STAR label. When shopping for heat pumps, look for solutions with the ENERGY STAR rating so you can be confident you’re choosing a high-efficiency heat pump.
At Booneville Heating & Cooling, we’ll 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 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 is not going to be the only savings you’ll observe when you buy a new high-efficiency heat pump. Many of the most efficient models can save you hundreds of dollars on your utility costs during the year. And you’ll also have greater confidence in your HVAC system to maintain your indoor space at just the right temperature.
If you think of questions regarding your eligibility for a tax credit, or if there are other local savings you could be eligible for by installing a new high-efficiency heat pump, give our experts at Booneville Heating & Cooling a call at 662-269-8716. You may also visit ENERGY STAR or call your local utility company if you have questions about other eligible home products.