Tax Credits Available For New Furnace Buyers

Not making heat get dropped up the chimney has its benefits. Many homeowners who are replacing their furnaces are selecting high-efficiency models to simply help combat growing heating costs. High-efficiency heaters, however, could be higher priced in the temporary than their standard-efficiency counterparts. To really make the purchase of other high-efficiency devices and this easier on the average household, Congress passed the Vitality Policy Act of tax credits are provided by 2005, which for the purchase of high-efficiency furnaces.

The new Energy Policy Act (EPACT) makes provisions for tax credits for skilled homeowners who install heaters between Jan. 1, 2006 and Dec. 31, 2007. The homeowner might be eligible for a credit of $150, if the furnace installed posseses an energy-efficiency ranking of 95% AFUE (Annual Fuel Utilization Efficiency) or more. And if a high-efficiency variable-speed blower motor is used by the furnace, the buyer might be qualified to receive yet another $50 tax credit!

Based on Jim Miller, merchandise manager for Goodman furnaces, 95% AFUE furnaces save homeowners profit the long term, even without the tax credit. "Simply set, with a AFUE furnace, for every dollar you spend on heating electricity, 95 cents of this dollar can be used to warm your home," explained Miller. "Many furnaces over the age of 15 years operate at efficiencies of around 60% AFUE, meaning only 60 cents of the gas burned plays a role in your home's heating." The remaining 40 cents is dropped up the chimney-expensive and inefficient.

"Plus, 95% AFUE furnaces with a variable-speed blower are much more efficient," Miller added. "The variable-speed blowers we use within our Goodman GMV95 95% AFUE Variable-Speed Furnace usually require up to 75 percent less energy than a standard engine. Because a furnace's blower also works together the home's cooling system to circulate air, consumers experience increased productivity year-round."

Homeowners should work with a heating and air-conditioning company to decide on the furnace that meets the needs of their house and should examine with their tax professional regarding the demands for the EPACT tax credits. Goodman may be the second-largest unit manufacturer of residential heating and cooling equipment in the United States, and the very first manufacturer to offer a whole type of 95% AFUE furnaces. furnace repair service chatsworth discussion