The investment in a new furnace can prove to be a serious financial undertaking, one pivotal to your comfort and survival through the colder winter months across the country. The federal and state governments have instituted several incentives to help offset the cost and maximize the savings of homeowners while, at the same time, encouraging them to adopt more energy-efficient technologies and create a more sustainable living environment.
Let the contractors affiliated with HVAC 911 show you how to limit the damage to your bank account and carbon footprint when it comes time to replace your heating system.
Savings at the federal level
The federal government offers tax credits for energy-efficient home improvements, including the installation of high-efficiency furnaces, heat pumps, water heaters and insulation, as well as electrical panel upgrades and home energy audits.
New federal income tax credits are available through 2032 and provide up to $3,200 annually to lower the cost of energy-efficient home upgrades by up to 30 percent, according to energystar.gov, the website for energy efficiency administered by the U.S. Environmental Protection Agency.
Homeowners can also take advantage of the modified and extended Residential Clean Energy credit, which provides a 30 percent income tax credit for clean energy equipment, such as rooftop solar, wind energy, geothermal heat pumps and battery storage through 2032.
Savings at the state level
Numerous states also offer rebates or cash incentives for upgrading to energy-efficient heating systems through utility companies or state energy agencies that can help offset the upfront costs of purchasing a new furnace or heating system.
The Database of State Incentives for Renewables and Efficiency, funded by the U.S. Department of Energy in collaboration with the NC Clean Energy Technology Center, makes it easy to find available renewable energy rebates in your area through its interactive map. Simply click on your state to see all available funded incentive programs to help lower your installation costs.
To maximize your savings, consider combining multiple incentives to take advantage of both federal tax credits and state rebate programs to significantly reduce the overall cost of your new furnace, heat pump or heating system.
Before making a purchase, research and understand the eligibility criteria and requirements for each incentive to ensure you meet all necessary conditions.
One way to do this is to call HVAC 911 for a referral to a contractor in your area who can help you identify a system to meet both your needs and the incentive requirements. With the right combination of incentives, you can enjoy the benefits of a high-efficiency heating system while saving money in the process.
Replace your furnace, lower your energy bills with HVAC 911
The investment in a new furnace is one of the smartest moves you can make for the comfort and efficiency of your home, and HVAC 911 is here to help.
Our contractor referral service will connect you with fully insured, bonded and licensed contractors who employ highly skilled and highly trained technicians who you can trust to get the job done.
You should not have to worry about excessive energy bills this winter. Contact a professional affiliated with HVAC 911 today.