For a lot of households, there usually seems to be a lengthy list of house to-do’s that they would like to complete or new ideas they’d like to try. While some may not be necessary, buying a new heat pump is one task that could be vital to keeping your indoor space comfortable during the cooler months in Monroe.

Purchasing a new heat pump is a big investment. You’ll absolutely recognize the return on investment on your indoor comfort along with your energy bills, but it may be a bit intimidating at first. The good news is that when you purchase a new energy-efficient heat pump, you might be approved for a federal tax credit.

According to ENERGY STAR®, the Non-Business Energy Property Tax Credits were extended through December 31, 2020. In order to get the tax credit, you must purchase a heat pump that has received the ENERGY STAR label. When browsing for heat pumps, keep an eye out for types with the ENERGY STAR rating so you can be confident you’re selecting a high-efficiency heat pump.

At Lanz Furnace and Fireplace, we’ll help you choose a solution that meets 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 select 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. Several of the most efficient heat pumps can save you hundreds of dollars on your energy bills during the year. And your household will also have more confidence in your HVAC system to maintain your indoor space at just the right temp.

Whether you think of questions regarding 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 experts at Lanz Furnace and Fireplace a call at 608-291-3606. You may also visit ENERGY STAR or contact your local utility establishment if you have questions about other eligible home products.