Specials for Apex Air Conditioning and Refrigeration
Special
Consumer Tax Incentives
What are the incentives for home heating & cooling equipment?
Purchasers of highly efficient heating, cooling, and water heating equipment can take tax credits of 30% of installed cost for purchasing qualifying equipment. These credits are available for systems placed in service from January 1, 2009, through December 31, 2010. There is a $1500 cap on the credit per home.
What type of equipment qualifies?
- High-efficiency gas, oil, and propane furnaces and boilers
- High-efficiency central air conditioning units, including air-source heat pumps
- Ground-source or geothermal heat pumps
- Biomass Stoves
- High-efficiency fans for heating and cooling systems
- High-efficiency water heaters, including heat pump water heaters
What are the efficiency requirements to qualify for the credit?
Furnaces & Boilers: Natural gas & propane furnaces must meet an Annual Fuel Use Efficiency (AFUE) 95 or higher, oil furnaces and gas, oil and propane boilers must meet an AFUE of 90 or better.
Central Air Units: Central air conditioning units and air sources heat pumps must meet the highest tier standards set by the Consortium for Energy Efficiency (CEE) as of February 17, 2009, which in most cases requires a Seasonal Energy Efficiency Ratio (SEER) of 16. SEER measures performance throughout the cooling season.
Where does the equipment have to be used?
Under guidance issued by the IRS, equipment is eligible if installed in a home occupied by a taxpayer as their principal residence at the time the equipment is installed. This implies that equipment in new homes is generally not eligible since in new homes equipment is generally installed prior to occupancy. However, efficient equipment in new homes can help that home qualify for the new home tax credit.
What do I need to do to qualify for the tax incentives?
Under IRS rules, manufacturers need to certify that specific measures are eligible. Homeowners should obtain a copy of this certification when buying these products from the manufacturer, contractor or retailer. Certifications need not be submitted to the IRS, but should be kept on file in case the IRS has questions. Homeowners should also make notes on when each eligible measures is installed-only measures placed in service in 2009 or 2010 are eligible. Contact Schraut Heating & Cooling for energy saving equipment that qualifies for Federal Tax Incentive.
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