If you are in the market for a new AC or heating unit, you might be surprised to learn that you can qualify for an energy tax credit of up to $300.00. It’s true – in fact, back in 2011 the United States Congress passed a piece of legislation as a part of the stimulus package that would reward individual home owners with an energy tax credit if they purchase certain Energy Star® rated major appliances. The purpose for this was to not only help people save a little money in time of economic uncertainty, but also to provide some incentive to purchase a highly energy efficient unit that helps to protect the global environment and save you money on your monthly energy bills.
However, just like any other federal government program, there are certain rules and standards that apply in order for you to receive the energy tax credit and rebate for the tax year you purchased and installed the qualified item. In order to clarify any confusion, here are some of the basic bullet points along with some facts about this program to permit you to make an informed decision.
What Qualifies for the 2013 Tax Credit?
According to the federal government, in order to receive an energy tax credit for the 2012 or 2013 tax season, you must purchase and install one of the following types of Energy Star® rated items in your primary residence.
Advanced Main Air Circulating Fan
An Advanced Main Air Circulating Fan is designed to efficiently circulate air from the AC and heating units into the duct work inside your house for maximum heat distribution. This Energy Star® rated item is included in the energy tax credit due to the simple fact that it helps cool or heat the home efficiently, reducing the amount of energy needed for the AC or furnace to operate.
The Federal Government allows a total tax credit up to $50.00 on this item. However, in order to qualify for this credit, it must not use more than 2 percent of the total energy of the furnace or AC unit.
Heat Pumps
Heat pump are some of the most energy efficient products for keeping a home cool and heated thanks to their unique thermal heating and cooling technology. These energy tax credit qualified devices can keep a home at a consistent temperature by relocating heat or cold from an area of the house to keep the temperature consistent. They are highly energy efficient – in fact heat pumps that qualify for the energy tax credit are nearly 4 times more efficient than standard heating and air conditioning in Scottsdale.
If you buy and install a heat pump system no later than December 31st, 2013, you can receive up to 10% of the total cost up to at least $500.00.
There are a few other items that qualify for the energy tax credit, but it is best to visit the EnergyStar.gov website to find out all the details you need to know about how to save money by using an efficient heating or cooling system.
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