For a lot of families, there always seems to be a long list of home improvement projects that they would like to achieve or new ideas they’d like to try. While a few may not be required, buying a new heat pump is an example of a task that could be critical to keeping your house comfortable through the colder months in Portland.

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

According to ENERGY STAR®, the Non-Business Energy Property Tax Credits were prolonged through December 31, 2020. In order to obtain the tax credit, you must select a heat pump that has gotten the ENERGY STAR label. When researching heat pumps, look for products with the ENERGY STAR rating so you can be certain you’re selecting a high-efficiency heat pump.

At Three Rivers Heating & Cooling, our team will help you choose a solution that fits your needs and ensures you qualify for this tax credit. While ENERGY STAR products designate high efficiency, you’ll need to 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

This tax credit will not be the only savings you’ll find when you get a new high-efficiency heat pump. Some of the most efficient solutions can save you hundreds of dollars on your energy bills throughout the year. And you’ll also have greater confidence in your HVAC system to maintain your indoor space at just the right temperature.

If you think of questions regarding your eligibility for a tax credit, or if there are additional local savings you may be eligible for by installing a new high-efficiency heat pump, give our experts at Three Rivers Heating & Cooling a call at 503-213-4433. You could also visit ENERGY STAR or reach out to your local utility company if you have questions about other eligible home products.