For many families, there typically seems to be a lengthy list of house tasks that they want to get done or new ideas they’d like to try. While several may not be necessities, buying a new heat pump is an example of a project that could be critical to keeping your indoor space comfortable throughout the colder months in Hodgenville.

Selecting a new heat pump is a great investment. You’ll absolutely see the return on investment on your indoor comfort in addition to your energy bills, but it may be a bit overwhelming 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 purchase a heat pump that has gotten the ENERGY STAR label. When shopping for 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 Phelps Heating & Cooling, Inc., our team will help you find a solution that matches your needs and ensures you qualify for this tax credit. While ENERGY STAR products indicate high efficiency, you’ll need to 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

Taking advantage of this opportunity won’t be the only savings you’ll find 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 throughout the year. And you’ll also have more confidence in your HVAC system to maintain your indoor space at just the right temp.

If you have questions concerning your eligibility for a tax credit, or if there are further local savings you could be eligible for by purchasing a new high-efficiency heat pump, give our experts at Phelps Heating & Cooling, Inc. a call at 270-358-3167. You can also visit ENERGY STAR or call your local utility establishment if you have questions about other eligible home products.