Tax credits on HVAC equipment were extended by Congress for 2011. Medway MA homeowners may be eligible for cumulative tax credits of up to $500 dollars, making an air conditioner or furnace upgrade more affordable. You should always consult with your tax advisor to see if you're eligible.
To qualify for these tax credits, your new HVAC equipment must meet energy efficiency requirements or standards, which are explained in detail on the Energy Star site, a U.S. Department of Energy website that provides useful and easy-to-understand information about energy efficient products and practices. HVAC equipment tax credits available to you include:
- Furnaces--Qualifying oil or gas furnaces having an AFUE (Annual Fuel Utilization Efficiency) rating of 95 earn a tax credit of up to $150.
- Boilers--Gas and oil burning boilers with an AFUE of 95 can also earn up to $150 in credits.
- Air Source Heat Pumps--Above-ground heat pumps with a SEER (Seasonal Energy Efficiency Ratio) of 15 and above and an EER (Energy Efficiency Ratio) of 12.5 and above qualify for up to $300. Package heat pump systems with a 14 SEER, a 12 EER and an HSFP (Heating Seasonal Performance Factor) of 8 qualify for the same amount.
- Central Air Conditioners--Package systems on central air carrying a SEER of 14 and above and an EER of 12 or above qualify for up to $300. Split systems of 16 SEER or more and an EER of 13 or higher also earn up to $300.
- Circulating Fans--Advanced Air Circulating Fans using 2 percent or less of the total energy of the furnace system are eligible for up to a $50 tax credit.
- Geothermal Heat Pumps--Closed loop systems having an EER of 14.1 and above and a COP (Coefficient Of Performance) of 3.3 and above, open loops with EER of 16.2 and a COP of 3.6 and above; and Direct Expansion systems having a COP of 3.5 and EER of 15 and above all qualify for tax credits of up to 30 percent for both the equipment and installation costs with no limit.
Rodenhiser can also help you with the required documentation as well as assisting you in applying for any utility rebates that you may be eligible for. This can add up to a substantial savings on your overall system installation costs.
Our staff at Rodenhiser can explain all the details, help you get the maximum credits available and the best equipment and energy savings for your home that will save you money.
Our goal is to help educate our customers about energy and home comfort issues (specific to HVAC systems). For more information about tax credits and other HVAC topics, download our free Home Comfort Solutions Guide.
Rodenhiser Plumbing, Heating and Air Conditioning serves the Route 495/128 area of Medway MA. To get started, check out our website or see our current promotions.