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

For a lot of homeowners, there typically seems to be a lengthy list of home improvement to-do’s that they would like to complete or new ideas they’d like to do. While several may not be required, purchasing a new heat pump is one project that could be key to keeping your indoor space comfortable throughout the colder months in West Palm Beach.

Buying a new heat pump is a sizeable investment. You’ll certainly realize the return-on-investment on your indoor comfort along with your energy bills, but it might be a bit intimidating at first. The good news is that when you purchase 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 prolonged through December 31, 2020. In order to get the tax credit, you must select a heat pump that has received the ENERGY STAR label. When browsing for heat pumps, watch for types with the ENERGY STAR rating so you can be confident you’re getting a high-efficiency heat pump.

At Kyzar Air Conditioning Inc, our experts help you identify a solution that meets your needs and helps you qualify for this tax credit. While ENERGY STAR products designate high efficiency, it’s important to confirm the heat pump you purchase 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 is not going to be the only savings you’ll receive when you purchase a new high-efficiency heat pump. Many of the most efficient solutions can save you hundreds of dollars on your utility costs all year long. And you’ll also have more confidence in your HVAC system to keep your house at just the right temp.

When you think of questions about your eligibility for a tax credit, or if there are additional local savings you may be eligible for by getting a new high-efficiency heat pump, give our team at Kyzar Air Conditioning Inc a call at 561-612-0242. You may also visit ENERGY STAR or call your local utility company if you have questions about other eligible home products.

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