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

For a lot of homeowners, there typically seems to be a long list of home tasks that they want to achieve or new ideas they’d like to attempt. While some may not be required, getting a new heat pump is one job that could be critical to keeping your house comfortable through the chillier months in Saint Petersburg.

Buying a new heat pump is a large investment. You’ll certainly feel the return-on-investment on your indoor comfort along with 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 may be qualified 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 receive the tax credit, you must select a heat pump that has received the ENERGY STAR label. When researching heat pumps, watch for types with the ENERGY STAR rating so you can be confident you’re choosing a high-efficiency heat pump.

At Hale's Air Conditioning Services Inc, our experts help you pick a solution that fits your needs and makes sure you qualify for this tax credit. While ENERGY STAR products indicate high efficiency, you should 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

 

Qualifying for the tax credit won’t be the only savings you’ll receive when you purchase a new high-efficiency heat pump. Many of the most efficient solutions can save you hundreds of dollars on your utility costs during the year. And your household will also have more confidence in your HVAC system to maintain your indoor space at just the right temperature.

When you come across questions about your eligibility for a tax credit, or if there are other local savings you might be eligible for by installing a new high-efficiency heat pump, give our team at Hale's Air Conditioning Services Inc a call at 727-369-6195. You could 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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Hale’s AC has been serving Pinellas Co for over 30 years and we will continue to take care of your air conditioning and heating needs during this unprecedented time. As an essential business, we are here for you. We are taking every available precaution to keep our customers and employees safe.

We appreciate you as a customer and ask for your patience and understanding. We will continue to provide our very best service to you.

Stay Safe!