For a lot of families, there typically seems to be a large list of house tasks that they would like to get done or new ideas they’d like to attempt. While some may not be required, getting a new heat pump is one job that could be key to keeping your home comfortable during the chillier months in Booneville.
Buying a new heat pump is a sizeable investment. You’ll definitely feel the return on investment on your indoor comfort in addition to your monthly bills, but it might be a little intimidating at first. The good news is that when you purchase a new energy-efficient heat pump, you may be eligible 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 buy a heat pump that has gotten the ENERGY STAR label. When researching heat pumps, keep an eye out for products with the ENERGY STAR rating so you can be sure you’re selecting a high-efficiency heat pump.
At Booneville Heating & Cooling, we’ll help you pick a solution that matches 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 buy 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 find when you purchase a new high-efficiency heat pump. Many of the most efficient solutions can save you hundreds of dollars on your utility costs all year long. And your household will also have higher confidence in your HVAC system to keep your house at just the right temperature.
When you have questions about your eligibility for a tax credit, or if there are additional local savings you could be eligible for by installing a new high-efficiency heat pump, give our pros at Booneville Heating & Cooling a call at 662-269-8716. You could also visit ENERGY STAR or contact your local utility organization if you have questions about other eligible home products.