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HVAC Tax Credit is Re-instated – What does this mean for you?

Preventative Maintenance - Residential Equipment Install

For homeowners planning a heating or cooling equipment purchase in 2013, we have good news. The federal tax credit for the installation of qualified energy-efficient equipment has been reinstated and is retroactive to January 1, 2012 (for eligible homeowners). The American Taxpayer Relief Act of 2012, passed on January 1, 2013, extends these credits through December 31, 2013.

For additional savings, some utility companies may offer additional incentives that can be used in conjunction with the 25C tax credit. To find out if your utility company is offering any incentives, visit The Database of State Incentives for Renewables and Efficiency (DSIRE) website, www.dsireusa.org.

Before jumping into a purchase, make sure that you qualify for the credit. We recommend that you consult your tax professional to avoid surprises after the fact. An H.B. McClure Comfort Consultant can also assist you, but should not be considered a substitute for professional tax guidance.

So, what qualifies for the credit?

Water Heaters ($300 Tax Credit)

• Electric heat pump water heaters with energy factors of at least 2.0; and

• Natural gas, propane, or oil water heaters with energy factors of at least 0.82 or thermal efficiencies of at least 90 percent.

Furnaces ($150 Tax Credit)

• Natural gas, propane, or oil furnaces with AFUE ratings of not less than 95 percent.

Boilers ($150 Tax Credit)

• Natural gas, propane, or oil boilers with AFUE ratings of not less than 95 percent.

Air Conditioners and Heat Pumps ($300 Tax Credit)

• Split system central air conditioners that achieve the highest-efficiency CEE tier as of Jan. 1, 2009 (16 SEER; 13 EER);

• Packaged central air conditioners that achieve the highest-efficiency CEE tier as of Jan. 1, 2009 (14 SEER; 12 EER);

• Split system electric heat pumps that achieve the highest-efficiency CEE tier as of Jan. 1, 2009 (8.5 HSPF; 12.5 EER; 15 SEER); and

• Packaged electric heat pumps that achieve the highest-efficiency CEE tier as of Jan. 1, 2009 (8.0 HSPF; 12.0 EER; 14 SEER).

Advanced Main Air-Circulating Fan ($50 Tax Credit)

• A fan used in a natural gas, propane, or oil furnaces with annual electricity use of no more than 2 percent of the furnace’s total energy use.

Ready to purchase a new heating or cooling system? H.B. McClure’s Comfort Consultants are prepared to discuss qualifying equipment that best meets your needs.