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

For a lot of households, there typically seems to be a long list of home projects that they would like to achieve or new ideas they’d like to try. While some may not be necessities, getting a new heat pump is one project that could be key to keeping your home comfortable during the chillier months in Saint Petersburg.

Buying a new heat pump is a sizeable investment. You’ll certainly feel the return-on-investment on your indoor comfort as well as your monthly bills, but it might be a bit overwhelming at first. The good news is that when you buy a new energy-efficient heat pump, you might 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 receive the tax credit, you must select a heat pump that has received the ENERGY STAR label. When researching heat pumps, look 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 find a solution that fits your needs and makes sure you qualify for this tax credit. While ENERGY STAR products designate high efficiency, you’ll need to 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

 

This 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 energy bills during the year. And you’ll also have greater confidence in your HVAC system to maintain your indoor space at just the right temperature.

When you come across questions regarding your eligibility for a tax credit, or if there are other local savings you may 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 organization 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!