Buy Efficient Furnaces and Save
28 December 2006
If you bought a new furnace and replaced an old one in 2006, you may want to take a closer look to see if you are entitled to a tax break. Most new furnaces rated with a 95 AFUE (Annual Fuel Use Efficiency) or higher can earn you a tax credit.
Natural gas, propane and oil burning furnaces can earn a credit up to $150 and if they are equipped with a high efficiency fan, or a variable speed fan, you can earn another $50 tax credit.
This is a small part of the Energy Policy Act of 2005. Another catch is that the manufacturer must have certified each model to qualify for the tax credit. For new homes, generally, the builder will have already taken the available credits under the new home program designed for them to encourage more efficient homes.
For more information on the Tax Incentives Assistance Project, visit www.energytaxincentives.org.
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