What if you could make home improvements that increase your comfort, lower your energy costs, add value to your home, and do something good for the environment? And what if you could get some money back from Uncle Sam at the same time?
Updated Tax Incentives for Homeowners
Part of the tax extender bill passed by Congress in December 2010 made significant changes to tax incentives for federal taxpayers who install qualified energy efficient retrofits in their home, including higher efficiency heating, ventilation, and air conditioning (HVAC) equipment in their primary residences. An eligible taxpayer may claim up to $500 in tax credits, subject to caps based on the type of equipment installed.
You may now qualify for tax credits equal to 10% of the costs (up to a $300 limit) for installing a high efficiency central air conditioner, heat pump, or hot water heater. You may also qualify for tax credits equal to 10% of the costs (up to $150 limit) for installing a qualified furnace or hot water boiler. A smaller tax credit of 10% of the installed costs (up to $50 limit) is available for installing a system with an advanced main air circulating fan.
But you have to hurry because these tax credits are only available for improvements made in 2011. Not taking advantage of this incentive just leaves money on the table.
What Is Considered a High Efficiency Unit?
A split system central air conditioner must meet or exceed 16 SEER and 13 EER; package system central air conditioners must meet or exceed 14 SEER and 12 EER.
An air source heat pump must meet or exceed 15 SEER and 12.5 EER and 8.5 HSPF, in order to qualify for the tax credit. Package heat pump systems must meet or exceed 14 SEER and 12 SEER and 8 HSPF.
Natural gas furnaces, propane furnaces, natural gas hot water boilers, propane hot water boilers, oil furnaces, and oil hot water boilers all must meet or exceed 95% AFUE.
For the advanced main air circulating fan credit, the fan must use no more than 2% of the furnace’s total energy. If the fan is qualified, but the furnace is not, you will not be able to take 10% off the cost of the entire furnace. Ask your HVAC contractor to break out the cost of the fan in your bill. You can get a 10% tax credit on the cost of the fan alone. If the furnace is qualified, but the fan is not, you can still take the 10% tax credit on the full cost of the furnace.
If I claimed more than $500 in tax credits under the previous tax credit programs, am I still eligible?
No. The new law reinstates the lifetime tax credit limits, which disqualify any homeowner who has claimed more than $500 in 25c tax credits since January 1, 2005, from any further credits.
Why You Should Consider an Upgrade
Advances in technology over the last ten years mean that today’s higher efficiency HVAC equipment uses less energy, runs more quietly, and provides improved indoor air quality and comfort. And by using less energy and improved refrigerants, your new HVAC equipment is better for the environment.
Most homeowners would like to reduce their energy bills with higher efficiency HVAC equipment, and these tax credit help make the initial investment more affordable.
Call us today to learn more: 919-439-8359 or email us at service@cleanairnc.com. We’ll be glad to help!
Completely Satisfied: To take advantage of the tax incentives, I decided to replace my main floor HVAC/heat pump earlier this year. 72 Degrees was by far the most professional and thorough of the 4 contractors I interviewed. Quoted price was fair and included everything I wanted and nothing I didn't...
Outstanding customer service is always worth it's weight in gold if you ask me. Had our home heat pump go belly up. The guys from 72 Degrees came out and gave me what I feel was an honest assessment of the problem. Heat pump DOA… I DID NOT shop around and I usually give myself all the time I need for a purchase this large. This is how impressed I was with the salesman, his professionalism and over knowledge of his product...
Outstanding Company. I would give them a 6 if I could. They were very prompt in getting to the job, as a matter-of-fact, they called and asked if it was alright for them to come 2 hours ahead of schedule. This was "NOT" a problem for me. The tech was friendly and knew what he doing. He offered me options that no other service provider offered. He was done in about an hour and I had my system working again. I would recommend these guys any day of the week.
Courteous, Professional, Company with fast response time. I have been using 72 degrees for over a year now and every time I call they are right there. Their technicians are courteous, and professional and very knowledgeable about any issue that you may have.
Member Comments: Everyone I interacted with was very professional as well as friendly. There were other groups that I looked at that were less expensive, but 72 has the BEST warranties out of the service providers I looked into. I know they stand behind it as well. One of my friends used them and had an issue after installation; he told me the fix was taken care of immediately, and the president of the company came out to make sure he was satisfied. These folks stand behind their name and that means a lot to me. 
72 deg. replaced my heating/cooling system. They were always on time , They called me to tell me when they would be working. The replacement was done very fast… 72 deg. had the right tools, manpower, and equipment to provide and install my new heating/cooling system. The front office worked hand in hand with the field crews to provide a super job "Well Done." 
