For most households, there usually seems to be a lengthy list of home projects that they would like to get done or new ideas they’d like to attempt. While a few may not be required, getting a new heat pump is a project that could be critical to keeping your house comfortable during the cooler months in Hodgenville.
Selecting a new heat pump is a great investment. You’ll absolutely recognize the return on investment on your indoor comfort in addition to your utility costs, but it could be a bit intimidating at first. The good news is that when you select 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 select a heat pump that has gotten the ENERGY STAR label. When shopping for 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 Phelps Heating & Cooling, Inc., our team will help you find a solution that matches your needs and makes sure you qualify for this tax credit. While ENERGY STAR products signify high efficiency, you’ll need to confirm the heat pump you pick 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 select a new high-efficiency heat pump. Some of the most efficient solutions can save you hundreds of dollars on your energy bills throughout the year. And you’ll also have higher confidence in your HVAC system to maintain your indoor space at just the right temp.
Whether you think of questions regarding your eligibility for a tax credit, or if there are additional local savings you might be eligible for by getting a new high-efficiency heat pump, give our experts at Phelps Heating & Cooling, Inc. a call at 270-358-3167. You may also visit ENERGY STAR or contact your local utility organization if you have questions about other eligible home products.