For most homeowners, there typically seems to be a large list of home improvement projects that they would like to get done or new ideas they’d like to try. While some may not be necessities, getting a new heat pump is one job that could be vital to keeping your indoor space comfortable throughout the cooler months in Lake Worth.
Getting a new heat pump is a sizeable investment. You’ll definitely notice the return on investment on your indoor comfort as well as your monthly bills, but it might be a tad overwhelming at first. The good news is that when you buy a new energy-efficient heat pump, you might be qualified 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 receive the tax credit, you must buy a heat pump that has received the ENERGY STAR label. When browsing for heat pumps, keep an eye out for solutions with the ENERGY STAR rating so you can be sure you’re getting a high-efficiency heat pump.
At Smyth Air Conditioning, our team will help you choose a solution that matches your needs and helps you qualify for this tax credit. While ENERGY STAR products indicate high efficiency, you should confirm the heat pump you choose 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 is not going to be the only savings you’ll observe when you purchase a new high-efficiency heat pump. Some of the most efficient models can save you hundreds of dollars on your energy bills all year long. And the family will also have more confidence in your HVAC system to keep your house at just the right temperature.
Whether you have questions about your eligibility for a tax credit, or if there are other local savings you could be eligible for by purchasing a new high-efficiency heat pump, give our experts at Smyth Air Conditioning a call at 561-533-6066. You can also visit ENERGY STAR or call your local utility organization if you have questions about other eligible home products.