For a lot of families, there usually seems to be a lengthy list of home improvement tasks that they need to get done or new ideas they’d like to try. While several may not be necessary, furnace replacement is an example of a project that could be vital to keeping your home comfortable through the cooler months in Long Island.

Getting a new furnace is a large investment. You’ll certainly realize the return-on-investment on your indoor comfort in addition to your utility costs, but it could be a little overwhelming at first. The good news is that when you pick a new energy-efficient furnace, you may 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 are required to buy a furnace that has earned the ENERGY STAR label. However, it can’t be a furnace that is labeled ENERGY STAR for “U.S. South Only.” When looking for furnace replacements, keep an eye out for solutions with the ENERGY STAR rating so you can be sure you’re selecting a high-efficiency furnace.

At Airmax Long Island, our team can help you determine a solution that fits your needs and makes sure you qualify for this tax credit. While ENERGY STAR products signify high efficiency, you’ll need to confirm the furnace you select has an Annual Fuel Utilization Efficiency (AFUE) greater than 95, in order to qualify for the tax credit. AFUE means the percent of heat produced for every dollar of fuel consumed.

This tax credit will not be the only savings you’ll receive when you get a new high-efficiency furnace. Many of the most efficient models can save you hundreds of dollars on your utility costs throughout the year. And you’ll also have higher confidence in your HVAC system to help your home stay at just the right comfort level.

If you come across questions concerning your eligibility for a tax credit, or if there are additional local savings you might be eligible for by getting a new high-efficiency furnace, give our experts at Airmax Long Island a call at 631-737-5566. You may also visit ENERGY STAR or contact your local utility company if you have questions about other eligible home products.