For many families, there always seems to be a large list of home improvement tasks that they want to get done or new ideas they’d like to do. While several may not be required, buying a new heat pump is a project that could be critical to keeping your indoor space comfortable throughout the cooler months in Booneville.

Getting a new heat pump is a big investment. You’ll certainly feel 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 purchase 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 receive the tax credit, you must buy a heat pump that has earned the ENERGY STAR label. When shopping for heat pumps, keep an eye out for solutions with the ENERGY STAR rating so you can be confident you’re getting a high-efficiency heat pump.

At Booneville Heating & Cooling, our team will help you select a solution that meets your needs and makes sure you qualify for this tax credit. While ENERGY STAR products designate high efficiency, you’ll need to confirm the heat pump you select 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

This tax credit is not going to be the only savings you’ll receive when you purchase a new high-efficiency heat pump. Several of the most efficient heat pumps can save you hundreds of dollars on your energy costs during the year. And your household will also have greater confidence in your HVAC system to maintain your indoor space at just the right comfort level.

If you come across questions regarding your eligibility for a tax credit, or if there are other local savings you may be eligible for by installing a new high-efficiency heat pump, give our team at Booneville Heating & Cooling a call at 662-269-8716. You may also visit ENERGY STAR or contact your local utility company if you have questions about other eligible home products.