Installing a new heating, ventilation, and air conditioning (HVAC) system may not hold the same cache as some obvious curb appeal-boosting home improvements. However, it pays you back a 60% return on investment (ROI) while you still own your home. That’s an impressive amount since most major home improvements pay back when you sell your home. This money comes back to you in six essential ways.
Regardless of how well you maintain them, older HVAC systems can’t operate optimally, but installing a new HVAC system can significantly increase energy efficiency. In the past 15 years, manufacturers have improved the Seasonal Energy Efficiency Ratio (SEER) from 18 to 25 on HVAC units. Those improvements in design can result in savings of up to 40% on energy bills.
As they age, HVAC systems experience increased service needs. As the wear and tear on these older systems builds up, it can result in expensive repairs. A breakdown at the wrong time can require emergency repairs so you and your family don’t suffer during a heatwave or cold snap. If you try to maintain a system that already exhausted its warranty, you’ll pay more. New HVAC systems boast improved life expectancy over older systems and only need an annual maintenance visit to ensure reliable performance.
The Internal Revenue Service (IRS) offers federal tax credits for the installation of energy-efficient HVAC systems, upgrading attic insulation, and geothermal heat pumps for tax years 2023 to 2032. Homeowners can apply Energy Star Home Upgrade Program tax credits of up to $3,200 to their taxes. You’re not limited to taking the credit only once, either. If you install a ductless mini-split in your garage workshop in 2024, you can take the credit on that year’s taxes. If, two years later, you update your home with a geothermal heat pump, you can take the credit on the 2026 taxes, too.
But wait, there’s more. In addition to tax credits, homeowners can take advantage of the Residential Clean Energy credit. Claim 30% of the expense of installing a new, clean energy system, such as a solar power system or geothermal heat pump, on your U.S. income taxes from 2022 to 2032.
New HVAC systems use designs that improve indoor air quality (IAQ) using built-in HEPA filters, humidity controls, and other devices. These IAQ improvements can help reduce chronic respiratory problems, such as asthma. Cleaner air can mean fewer flare-ups and better breathing, translating to needing to visit the doctor less frequently.
Older HVAC systems dirty the air more as they age. If your current HVAC system reaches the age of 10 years, your family might notice an increase in antihistamine use. Individuals with allergies may notice that as their HVAC unit ages, they need to take their allergy medicine more often.
We already mentioned the ROI you earn from installing a new HVAC system, but your new home comfort system also increases your property value. The average homeowner notes a property value increase of about 7% from the installation of an HVAC system.
Some home improvements only give you aesthetic enjoyment until you sell your home. Installing a new HVAC system pays you back in two ways. First, the device saves you money on utility bills, income taxes, and medical costs. Second, it increases the property value by up to 7%.
Besides financial benefits, breathing cleaner indoor air and enjoying a home that remains at a comfortable temperature add to your quality of life. That’s a pretty important intangible benefit.
Contact Measday’s Heating & Air, serving the greater Jacksonville, FL, area with expert heating and cooling experience and knowledge. We specialize in AC system installation, indoor air quality services, maintenance, and commercial HVAC services.
Our company offers the best possible service at an affordable price. As licensed and insured HVAC contractors, we’re dedicated to ensuring your satisfaction with every job we do. Let us tackle your heating and cooling problem so you can beat the Florida heat. Call us today for an appointment.
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