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

For most homeowners, there always seems to be a long list of home improvement projects that they would like to get done or new ideas they’d like to try. While several may not be required, purchasing a new heat pump is one task that could be vital to keeping your indoor space comfortable throughout the chillier months in Anaheim.

Purchasing a new heat pump is a sizeable investment. You’ll absolutely realize the return-on-investment on your indoor comfort as well as your utility costs, but it might be a tad overwhelming at first. The good news is that when you purchase a new energy-efficient heat pump, you may be eligible 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 obtain the tax credit, you must select a heat pump that has gotten the ENERGY STAR label. When researching heat pumps, keep an eye out for products with the ENERGY STAR rating so you can be confident you’re getting a high-efficiency heat pump.

At Eco Fresh HVAC Inc., our team will help you find a solution that fits your needs and helps you qualify for this tax credit. While ENERGY STAR products designate high efficiency, you should confirm the heat pump you pick 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 is not going to be the only savings you’ll find when you buy a new high-efficiency heat pump. Some of the most efficient models 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 maintain your indoor space at just the right temp.

If you come across questions concerning 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 pros at Eco Fresh HVAC Inc. a call at 714-453-4711. You could also visit ENERGY STAR or contact your local utility establishment if you have questions about other eligible home products.

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