Federal tax credits on qualifying, high-efficiency HVAC equipment have been modified and extended through December 31, 2011 by the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010. This program differs from the program effective in 2009-2010 in the following ways:
|Maximum Tax Credit Available||Product Type||Efficiency Requirements|
|$50||Any advanced main air circulating fan||*See below|
|$150||Natural gas, propane, oil furnace or boiler||95% AFUE|
|$300||Split system air conditioner||16 SEER / 13 EER|
|$300||Split system heat pump||15 SEER / 12.5 EER / 8.5 HSPF|
|$300||Package air conditioner||14 SEER / 12 EER|
|$300||Package heat pump||14 SEER / 12 EER / 8 HSPF|
|$300||Package gas / electric||14 SEER / 12 EER|
*Electricity use of no more than 2% of the total energy use of the furnace
Geothermal system tax credits are unaffected by these changes and remain in place as is through 12/31/2016.
Note: this bulletin is for discussion purposes only and is general in nature. This is not to be considered tax advice. See your tax professional to determine how these credits would apply in your circumstance.