For a lot of families, there typically seems to be a long list of house tasks that they would like to achieve or new ideas they’d like to do. While a few may not be required, purchasing a new heat pump is an example of a project that could be vital to keeping your home comfortable through the cooler months in Excelsior Springs.
Getting a new heat pump is a large investment. You’ll certainly feel the return on investment on your indoor comfort as well as your monthly bills, but it might be a tad intimidating at first. The good news is that when you pick 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 buy a heat pump that has received the ENERGY STAR label. When shopping for heat pumps, keep an eye out for solutions with the ENERGY STAR rating so you can be sure you’re selecting a high-efficiency heat pump.
At Colvin's Heating and Cooling, our team will help you find a solution that meets your needs and helps you qualify for this tax credit. While ENERGY STAR products indicate high efficiency, you’ll need to 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
Taking advantage of this opportunity won’t be the only savings you’ll receive when you purchase a new high-efficiency heat pump. Several of the most efficient models can save you hundreds of dollars on your energy costs during the year. And the family will also have more confidence in your HVAC system to help your home stay at just the right temperature.
If you think of questions concerning your eligibility for a tax credit, or if there are additional local savings you could be eligible for by installing a new high-efficiency heat pump, give our pros at Colvin's Heating and Cooling a call at 816-379-3918. You can also visit ENERGY STAR or reach out to your local utility company if you have questions about other eligible home products.