Who doesn’t want an extra $500 in their pocket?
Homeowners throughout the country, including those in Huntersville, North Carolina, can get up to a $500 tax credit if they have installed an energy-efficient water heater, furnace, boiler, air conditioner, or heat pump in 2012 or 2013. These tax credits were set to expire at the end of 2011, but they have been retroactively reinstated until December 31, 2013, thanks to the American Taxpayer Relief Act of 2012 (ATRA).
If you’re still using an outdated heating and cooling system, then this is the perfect time to switch to an energy-efficient system. Each type of installed/qualified equipment is subject to the following individual restrictions:
Propane, natural gas, or oil furnaces ($150 tax credit)
- Minimum standards apply on the AFUE (annual fuel utilization efficiency).
Propane, natural gas, or oil furnace fans ($50 tax credit)
- Must have a maximum annual electricity use of 2% of the total energy of the furnace.
Propane, natural gas, or oil boilers ($150 tax credit)
- Minimum standards apply on the AFUE (annual fuel utilization efficiency).
Electric heat pump, propane, natural gas, and oil water heaters ($300 tax credit)
- Minimum standards apply on the energy factor and thermal efficiency.
Split-system or packaged central air conditioners ($300 tax credit)
- Minimum standards apply on the SEER (seasonal energy efficiency ratio) and EER (energy efficiency ratio).
Split-system or packaged electric heat pumps ($300 tax credit)
- Minimum standards apply on the SEER (seasonal energy efficiency ratio), EER (energy efficiency ratio), and HSPF (heating seasonal performance factor).
Contact a qualified HVAC company today to learn more about product eligibility. Residents of Huntersville, North Carolina can call Cool Comfort Heating & Air at (704) 896-7095 for more information.
