Archive for the ‘Tax Credits’ Category

Federal Energy Efficiency Rebates Explained: A Tip From Hurst

Saturday, September 10th, 2011

You’ve probably seen the advertisements and heard the sales pitches all over Hurst. Upgrade your furnace, air conditioner, or insulation and receive a federal rebate on your taxes for a percentage of the installation cost. The government is seriously invested in improving the energy efficiency of the country, cutting electric bills and helping people stay comfortable. Here’s a quick look at some of those rebates and how you can tap into them.

Energy Efficiency Credits

There is a standard tax credit of 10% of the cost up to $500 or a specific amount between $50 and $300 for any upgrade made to your existing home for heating, ventilation, air conditioning, insulation, roofs, or water heaters. These upgrades must be made on an existing home in which you currently live – rentals and new construction homes are not eligible.

Green Energy Credits

Even better credits are available if you plan on installing a geothermal heat pump, wind turbine or solar system – either PV panels or solar heating. The tax credit here is 30% of the cost with no upper limit. This applies to any existing or new homes and can be applied to both primary and secondary residences.

Are the Tax Credits Worth It?

The big question is whether these credits are worth the investment in a brand new system? For the most part, it depends on your particular situation. If you have a 30 year old furnace and are planning on an upgrade anyways, why not take advantage of a nice rebate and get a more energy efficient system to go with it? However, if you just replaced your furnace three years ago and it works very well with a high energy efficiency rating, it might not be worth the investment.

Learn More

The Energy Star program run by the EPA contains detailed breakdowns of the 2011 tax credits, including what systems are eligible and how to go about claiming them on next year’s taxes. Learn more by visiting their official page.

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LAST CHANCE!!! HVAC Tax Credits Under the 2009/2010 Stimulus Plan

Friday, November 5th, 2010

Customers who purchase high-efficiency heating and air conditioning systems will receive up to a $1,500 tax credit now through the end of the year only. Specifically, here are the government’s requirements for receiving a tax credit. Specifically, here are the criteria for receiving this tax credit:

1. A natural gas, propane, or oil furnace rated at 95.0% AFUE or higher.

2. Any furnace equipped with an advanced main air circulating fan that uses no more than 2% of the total furnace total energy use.

3. A central air conditioner that achieves the highest efficiency tier established by the Consortium for Energy Efficiency as in effect on January 1, 2009/2010 (which is 16 SEER or higher, 13 EER or higher rating). Previously, the criteria were 15 SEER, 12.5 EER which is no longer valid.

4. An electric air source heat pump that achieves the highest efficiency tier established by the Consortium for Energy Efficiency as in effect on January 1, 2009/2010 (which is 15 SEER or higher, 12.5 EER or higher, 8.5 HSPF or higher rating). Previously, the criteria were 15 SEER, 13 EER, 9 HSPF as stated in the text of the legislation rather than being tied to the CEE highest efficiency tier level for electric air source heat pumps.

Many people confuse a credit with a deduction. A credit is much better, and applies directly against the liability (in this case, the heating and air conditioning system). A deduction only applies against income, which can lower the adjusted gross income. Therefore, a credit has a much greater benefit than a deduction.

A#1 Air made a huge purchase of high-efficiency heating and air conditioning systems and we’re way overstocked. So now through the end of the year during our Cash for Christmas Sale, get a new high-efficiency heating and air conditioning system and A#1 Air will give you up to a $4,000 cash rebate so you’ll have plenty of cash to shop for Christmas. With your $1,500 tax credit, that’s a $5,500 savings. And at A#1 Air, we have 0% financing available. Hurry to take advantage of this offer, as both the tax credit and our Cash for Christmas Sale end December 31, 2010.

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2009 Economic HVAC Stimulus: A $1500 Tax Credit for Air Conditioning & Heating

Thursday, October 29th, 2009

If you need a new air conditioner, now is the time to take advantage of the federal tax credit for 2009.  The American Recovery and Reinvestment Act of 2009, allows a person purchasing a qualifying air conditioning system and get a $1500 tax credit (link).

There is a lot of confusion as to what a TAX CREDIT is and which is better a tax credit or a tax deduction.  In this article, we at A#1 Air & Appliance hope to provide you with some answers.  Be sure to check out the special offer at the bottom, that can double the amount of your tax credit! (more…)

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