For many homeowners, there usually seems to be a lengthy list of home tasks that they want to complete or new ideas they’d like to attempt. While some may not be required, purchasing a new heat pump is an example of a task that could be critical to keeping your house comfortable during the cooler months in Hasbrouck Heights.
Purchasing a new heat pump is a great investment. You’ll absolutely notice the return on investment on your indoor comfort in addition to your utility costs, but it may be a tad overwhelming at first. The good news is that when you pick 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 extended through December 31, 2020. In order to obtain the tax credit, you must purchase a heat pump that has received the ENERGY STAR label. When researching 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 ACE Solutions, we’ll help you identify a solution that meets your needs and ensures you qualify for this tax credit. While ENERGY STAR products indicate high efficiency, you’ll need to confirm the heat pump you buy 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
This tax credit won’t be the only savings you’ll find when you get 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 you’ll also have higher confidence in your HVAC system to keep your house at just the right temp.
If you come across questions about your eligibility for a tax credit, or if there are further local savings you may be eligible for by purchasing a new high-efficiency heat pump, give our team at ACE Solutions a call at 201-426-0650. You may also visit ENERGY STAR or call your local utility company if you have questions about other eligible home products.