For many homeowners, there always seems to be a large list of home improvement to-do’s that they want to achieve or new ideas they’d like to attempt. While several may not be required, purchasing a new heat pump is an example of a job that could be key to keeping your house comfortable throughout the chillier months in Palm Coast.

Selecting a new heat pump is a big investment. You’ll absolutely realize the return on investment on your indoor comfort as well as your monthly bills, but it could be a bit intimidating at first. The good news is that when you buy a new energy-efficient heat pump, you could be approved for a federal tax credit.

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

At Cooks Air Conditioning and Heating Specialists, our experts help you identify a solution that meets 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 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 won’t be the only savings you’ll receive when you purchase a new high-efficiency heat pump. Several of the most efficient heat pumps can save you hundreds of dollars on your utility costs all year long. And your household will also have greater confidence in your HVAC system to maintain your indoor space at just the right comfort level.

If you come across questions about your eligibility for a tax credit, or if there are additional local savings you may be eligible for by purchasing a new high-efficiency heat pump, give our pros at Cooks Air Conditioning and Heating Specialists a call at 386-313-8766. You could also visit ENERGY STAR or contact your local utility organization if you have questions about other eligible home products.