How do I get a tax credit for my new heat pump?

For a lot of families, there usually seems to be a large list of home tasks that they would like to achieve or new ideas they’d like to try. While a few may not be required, buying a new  heat pump is one project that could be key to keeping your house comfortable through the chillier months in Naples.

Selecting a new heat pump is a sizeable investment. You’ll certainly realize the return on investment on your indoor comfort in addition to your energy bills, but it might be a little overwhelming at first. The good news is that when you buy a new energy-efficient heat pump, you could be eligible 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 earned the ENERGY STAR label. When researching heat pumps, look for types with the ENERGY STAR rating so you can be sure you’re selecting a high-efficiency heat pump.

At Speedy Air Conditioning, our team will help you select a solution that meets your needs and helps you qualify for this tax credit. While ENERGY STAR products signify high efficiency, you should 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

Qualifying for the tax credit is not going to be the only savings you’ll find when you get a new high-efficiency heat pump. Several of the most efficient solutions can save you hundreds of dollars on your energy costs all year long. And the family will also have higher confidence in your HVAC system to keep your house at just the right temperature.

When you have questions concerning your eligibility for a tax credit, or if there are other local savings you may be eligible for by purchasing a new high-efficiency heat pump, give our experts at Speedy Air Conditioning a call at 239-244-3439. You may also visit ENERGY STAR or reach out to your local utility company if you have questions about other eligible home products.

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