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2011/2012 HVAC Tax Credits
What if you could make home improvements that increase your comfort, lower your energy
costs, add value to your home, and do something good for the environment? And what if you
could get some money back from Uncle Sam at the same time?
Updated Tax Incentives for Homeowners
Part of the tax extender bill passed by Congress in December 2010 made significant changes to
tax incentives for federal taxpayers who install qualified energy efficient retrofits in their home,
including higher efficiency heating, ventilation, and air conditioning (HVAC) equipment in their
primary residences. An eligible taxpayer may claim up to $500 in tax credits, subject to caps
based on the type of equipment installed.
You may now qualify for tax credits equal to 10% of the costs (up to a $300 limit) for installing a
high efficiency central air conditioner, heat pump, or hot water heater. You may also qualify for
tax credits equal to 10% of the costs (up to $150 limit) for installing a qualified furnace or hot
water boiler. A smaller tax credit of 10% of the installed costs (up to $50 limit) is available for
installing a system with an advanced main air circulating fan.
But you have to hurry because these tax credits are only available for improvements made in
2011. Not taking advantage of this incentive just leaves money on the table.
What Is Considered a High Efficiency Unit?
A split system central air conditioner must meet or exceed 16 SEER and 13 EER; package
system central air conditioners must meet or exceed 14 SEER and 12 EER.
An air source heat pump must meet or exceed 15 SEER and 12.5 EER and 8.5 HSPF, in order to
qualify for the tax credit. Package heat pump systems must meet or exceed 14 SEER and 12
SEER and 8 HSPF.
Natural gas furnaces, propane furnaces, natural gas hot water boilers, propane hot water
boilers, oil furnaces, and oil hot water boilers all must meet or exceed 95% AFUE.
For the advanced main air circulating fan credit, the fan must use no more than 2% of the
furnace's total energy. If the fan is qualified, but the furnace is not, you will not be able to take
10% off the cost of the entire furnace. Ask your HVAC contractor to break out the cost of the
fan in your bill. You can get a 10% tax credit on the cost of the fan alone. If the furnace is
qualified, but the fan is not, you can still take the 10% tax credit on the full cost of the furnace.
If I claimed more than $500 in tax credits under the previous tax credit programs, am I still
eligible?
No. The new law reinstates the lifetime tax credit limits, which disqualify any homeowner who
has claimed more than $500 in 25c tax credits since January 1, 2005, from any further credits.
Why You Should Consider an Upgrade
Advances in technology over the last ten years mean that today’s higher efficiency HVAC
equipment uses less energy, runs more quietly, and provides improved indoor air quality and
comfort. And by using less energy and improved refrigerants, your new HVAC equipment is
better for the environment.
Most homeowners would like to reduce their energy bills with higher efficiency HVAC
equipment, and these tax credit help make the initial investment more affordable.
Talk to us about finding the right qualified equipment that meets your budget. They can show
you how much energy (and money) you could save over the long term.
Note: Every taxpayer’s situation is different. We can’t guarantee eligibility for the tax credits.
But we can help you figure out what equipment qualifies and how it can work for your comfort,
health, and pocketbook.
Up To $500 Federal Tax Credit for
High Efficiency Heating & Cooling
Models
High Efficiency Heating & Cooling
Models
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information concerning
tax credit.
information concerning
tax credit.
| New Federal HVAC Energy Tax Credit For 2011 |
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