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

For most families, there typically seems to be a long list of home tasks that they would like to complete or new ideas they’d like to do. While several may not be necessities, buying a new heat pump is one task that could be vital to keeping your home comfortable during the colder months in Cape Coral.

Getting a new heat pump is a sizeable investment. You’ll certainly realize the return-on-investment on your indoor comfort as well as your energy bills, but it may be a little intimidating at first. The good news is that when you buy 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 pushed through December 31, 2020. In order to obtain the tax credit, you must buy a heat pump that has earned 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 getting a high-efficiency heat pump.

At Comfort Zone Inc, we’ll help you identify a solution that fits your needs and ensures you qualify for this tax credit. While ENERGY STAR products signify high efficiency, it’s important 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 will not 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 costs all year long. And your household will also have more confidence in your HVAC system to help your home stay at just the right temp.

Whether you have questions regarding your eligibility for a tax credit, or if there are other local savings you may be eligible for by purchasing a new high-efficiency heat pump, give our pros at Comfort Zone Inc a call at 239-214-0411. You can also visit ENERGY STAR or reach out to your local utility organization if you have questions about other eligible home products.

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