For most homeowners, there usually seems to be a long list of home improvement to-do’s that they want to get done or new ideas they’d like to try. While several may not be necessary, getting a new heat pump is one job that could be key to keeping your house comfortable through the chillier months in Lake Worth.
Buying a new heat pump is a sizeable investment. You’ll absolutely see the return-on-investment on your indoor comfort along with your monthly bills, but it could be a tad intimidating at first. The good news is that when you pick a new energy-efficient heat pump, you might 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, look for types with the ENERGY STAR rating so you can be sure you’re getting a high-efficiency heat pump.
At Smyth Air Conditioning Inc, our team will help you select a solution that meets your needs and helps you qualify for this tax credit. While ENERGY STAR products signify high efficiency, it’s important 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
This tax credit will not be the only savings you’ll receive when you select a new high-efficiency heat pump. Some of the most efficient heat pumps can save you hundreds of dollars on your energy costs all year long. And your household will also have higher confidence in your HVAC system to maintain your indoor space at just the right temp.
If you come across questions concerning your eligibility for a tax credit, or if there are additional local savings you may be eligible for by purchasing a new high-efficiency heat pump, give our pros at Smyth Air Conditioning Inc a call at 561-533-6066 . You may also visit ENERGY STAR or reach out to your local utility organization if you have questions about other eligible home products.