For most families, there usually seems to be a large list of home improvement tasks that they need to get done or new ideas they’d like to do. While a few may not be required, buying a new heat pump is one task that could be vital to keeping your home comfortable through the chillier months in Moline.
Getting a new heat pump is a great investment. You’ll definitely realize the return on investment on your indoor comfort along with your monthly bills, but it might be a bit overwhelming at first. The good news is that when you buy 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 prolonged through December 31, 2020. In order to get the tax credit, you must purchase a heat pump that has earned the ENERGY STAR label. When browsing for heat pumps, keep an eye out for products with the ENERGY STAR rating so you can be certain you’re selecting a high-efficiency heat pump.
At Freed Heating & Air Conditioning, our experts help you find a solution that meets your needs and makes sure you qualify for this tax credit. While ENERGY STAR products indicate 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 will not be the only savings you’ll observe when you buy a new high-efficiency heat pump. Several of the most efficient solutions can save you hundreds of dollars on your energy costs during the year. And your household will also have higher confidence in your HVAC system to help your home stay at just the right temperature.
When you come across questions concerning your eligibility for a tax credit, or if there are further local savings you could be eligible for by installing a new high-efficiency heat pump, give our pros at Freed Heating & Air Conditioning a call at 309-323-9584. You could also visit ENERGY STAR or contact your local utility establishment if you have questions about other eligible home products.