If you purchase an ENERGY STAR rated furnace with an AFUE rating of 90 or better you can receive a federal tax credit of up to $1,500. The Federal Residential Energy Efficiency Tax Credit is designed to cover 30 percent of the system and installation costs.

Although there aren’t any other rebates that can help you out with your new oil furnace at this time, there are some other nice rebates you might not want to miss. Through New York’s Energy-Efficient Appliance Rebate Program, you can receive $555 for replacing your clothes washer, dishwasher and refrigerator with new ENERGY STAR rated appliances. This program will end when funding runs out. Good luck, and stay warm!