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Can I get a tax credit for my new heat pump?

For many homeowners, there usually seems to be a large list of house tasks that they need to complete or new ideas they’d like to try. While a few may not be necessities, purchasing a new heat pump is a task that could be vital to keeping your home comfortable throughout the colder months in St. Cloud.

Purchasing a new heat pump is a large investment. You’ll absolutely feel the return-on-investment on your indoor comfort as well as your energy bills, but it may be a bit overwhelming at first. The good news is that when you purchase a new energy-efficient heat pump, you could 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 receive the tax credit, you must purchase a heat pump that has received the ENERGY STAR label. When researching heat pumps, watch for types with the ENERGY STAR rating so you can be certain you’re selecting a high-efficiency heat pump.

At Osceola Air, LLC, we’ll help you find a solution that matches your needs and helps you qualify for this tax credit. While ENERGY STAR products signify high efficiency, you should 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

 

Taking advantage of this opportunity won’t be the only savings you’ll receive when you buy a new high-efficiency heat pump. Many of the most efficient heat pumps can save you hundreds of dollars on your utility costs throughout the year. And you’ll also have greater confidence in your HVAC system to maintain your indoor space at just the right comfort level.

If you have questions about your eligibility for a tax credit, or if there are additional local savings you could be eligible for by getting a new high-efficiency heat pump, give our team at Osceola Air, LLC a call at 407-477-6319. You may also visit ENERGY STAR or reach out to your local utility establishment if you have questions about other eligible home products.

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