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

For many households, there usually seems to be a lengthy list of house to-do’s that they need to complete or new ideas they’d like to try. While some may not be required, purchasing a new heat pump is a job that could be vital to keeping your indoor space comfortable throughout the chillier months in Paso Robles.

Buying a new heat pump is a sizeable investment. You’ll certainly recognize the return-on-investment on your indoor comfort as well as your monthly bills, but it could be a tad overwhelming at first. The good news is that when you purchase a new energy-efficient heat pump, you may be approved for a federal tax credit.

According to ENERGY STAR®, the Non-Business Energy Property Tax Credits were pushed 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 researching heat pumps, keep an eye out for products with the ENERGY STAR rating so you can be confident you’re selecting a high-efficiency heat pump.

At Paso Robles Heating and Air, we’ll help you select a solution that matches your needs and makes sure you qualify for this tax credit. While ENERGY STAR products signify high efficiency, you should 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

 

Qualifying for the tax credit won’t be the only savings you’ll find when you select a new high-efficiency heat pump. Some of the most efficient heat pumps can save you hundreds of dollars on your energy bills throughout the year. And your household will also have higher confidence in your HVAC system to help your home stay at just the right temp.

When you come across questions about your eligibility for a tax credit, or if there are other local savings you may be eligible for by getting a new high-efficiency heat pump, give our pros at Paso Robles Heating and Air a call at 805-203-8667. You may also visit ENERGY STAR or contact your local utility organization if you have questions about other eligible home products.

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