For many families, there typically seems to be a lengthy list of home improvement projects that they would like to achieve or new ideas they’d like to attempt. While some may not be necessary, buying a new heat pump is one job that could be vital to keeping your house comfortable through the chillier months in Muldrow.
Buying a new heat pump is a big investment. You’ll absolutely see the return on investment on your indoor comfort as well as your energy 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 approved for a federal tax credit.
According to ENERGY STAR®, the Non-Business Energy Property Tax Credits were pushed 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 browsing for heat pumps, watch for types with the ENERGY STAR rating so you can be sure you’re choosing a high-efficiency heat pump.
At Air Service Co., we’ll help you select a solution that matches your needs and helps you qualify for this tax credit. While ENERGY STAR products indicate high efficiency, you’ll need to confirm the heat pump you purchase 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 receive when you purchase a new high-efficiency heat pump. Some of the most efficient solutions can save you hundreds of dollars on your utility costs during the year. And your household will also have more confidence in your HVAC system to help your home stay at just the right temp.
If you think of questions concerning your eligibility for a tax credit, or if there are further local savings you might be eligible for by getting a new high-efficiency heat pump, give our experts at Air Service Co. a call at 918-212-8943. You could also visit ENERGY STAR or contact your local utility organization if you have questions about other eligible home products.