As we talk with our customers, we're finding that many are unaware of this year's federal tax credits for energy-efficient HVAC equipment and home improvements. Lots of people have the mistaken idea that the credits all ended last year. Not so. Many 2011 federal credits are available to homeowners.
Any homeowner out there who is planning to purchase a new home comfort system or an upgrade this year can take advantage of the credits. Here's a summary of eligible products, minimum efficiency rating requirements and associated federal tax credits:
- Advanced main air circulating fans: $50 credit, or take 30 percent of the fan's cost, provided the fan uses 2 percent or less of furnace energy.
- Central A/C, including installation costs: $300 for equipment with a minimum efficiency rating (SEER) of 14 and rated at least 16 for split systems.
- Heat pumps (electric), including installation: $300 credit if the unit is rated at least 14 (or 15 for split systems).
- Furnaces/boilers, including installation: $150 credit for equipment with a minimum rating (AFUE) of 90 or at rated least 95 for gas or propane units.
- Geothermal heat pumps and solar energy systems : Credit for 30 percent of the cost, with no limit.
Credits may also be taken for certain water heaters, biomass heating stoves, insulation and more. Some credits are for primary residences only and most have additional requirements. The U.S. Department of Energy lists the details on its Energy Savers website, or you can talk to your local HVAC contractor who can walk you through your options.
If wading through all the complicated rules for federal HVAC-related tax credits gets confusing, feel free to consult your local experts at Mast Heating & Cooling. We'll be glad to explain all your options and answer any questions.
Our goal at Mast Heating & Cooling 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, click here to download our free Home Comfort Resource guide.
Mast Heating & Cooling services the Zeeland, Michigan and Holland, Michigan areas. To get started, check out our website or see our special offers.