If you’re like most people right now, you’re probably looking for ways to save money whenever possible. Reduce the heating and cooling bills is one of the easiest ways to do this. In an energy efficient furnace, you can save a lot of money on these, but you can still save money on the furnace itself. There are many ways to save money with a new furnace, and here are a few of them. Get more info about Furnace Repair Naperville.
First and foremost, if you purchase a new energy efficient furnace before the end of 2010, you can save a significant amount of money on your HVAC system. You will get a 30 percent tax credit if you purchase a new furnace that meets government requirements between now and then. When it comes to anything as costly as a new furnace, 30 percent can be a significant amount of money. In reality, a new heating and cooling system for your home will save you up to $1,500.
This tax credit is better than a tax deduction because it can be applied to your taxes dollar for dollar. You will only get a dollar deduction off your taxes up to a certain amount for a typical deduction, but with this tax credit, the government will give you exactly 30% of the cost of your new energy-efficient furnace – up to $1,500. If you get a refund, this money will be credited to your tax bill, or it will be applied to the sum you owe the government at the end of the year.
Second, investing in a new energy-efficient furnace would save you money on furnace maintenance costs. If your old furnace is more than ten years old, you’ll almost certainly have to pay a lot more to keep it working over time. A brand new furnace, on the other hand, would cost more up front, but you’ll save money in the long run because you’ll rarely need to pay for a repair. Furthermore, several furnaces will come with a warranty, so you can rest assured that someone else will cover any necessary repairs in the coming years.
Finally, and maybe most obviously, a new energy efficient furnace will save you a significant amount of money over time on your energy bills. A new furnace will save you between $500 and $1,000 per year if you live in a region with cold, long winters. Simply put, your new furnace will pay for itself in a matter of years. When you combine this with the government’s tax credit, you can comfortably afford a brand new furnace that pays for itself in a few years.