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Residential Tax Credits for Qualifying High Efficiency Systems

2009-2010 Tax Credits
American Recovery and Reinvestment Act of 2009 (ARRA)

The Tax Credit available on residential energy efficiency improvements is a great opportunity for homeowners. The tax credit allows you to upgrade your old comfort system to a high efficiency system, reduce your energy usage and get paid to do it in the form of a $1,500 tax credit at the end of the year.

If your system is nearing the end of its life expectancy or you simply want to improve energy efficiency, the timing is just right. Some of the terms and conditions are outlined below. We can provide a free consultation and answer any of your questions regarding the new systems available to you and how to take advantage of the tax credit. Simply call us at 877-210-6812 to schedule a convenient time.

Terms

  • Homeowners may claim up to 30% of installed costs – Maximum of $1,500
  • Install of $5,000 qualifies for full tax credit
  • Tax credits apply to improvements made between Jan. 1, 2009 to Dec. 31, 2010
  • Limited to one tax credit of $1,500 per homeowner during this period

Eligibility

  • Primary residences only – not eligible for credit on rentals, secondary homes, etc.
  • Homeowners only – business owners are not eligible
  • Homeowners are eligible even if they claimed tax credits in 2006 or 2007

Claims

  • $1,500 total can be claimed on one improvement or used for multiple improvements
  • File Form 5695 (Residential Energy Efficient Property Credit) & keep your installation records
  • Homeowners are responsible for filing proper forms and ensuring their personal eligibility

EFFICIENCY REQUIREMENTS for TAX CREDITS

Electric Air Source Heat Pumps 15 SEER, 12.5 EER & 8.5 HSPF
Central Air Conditioners 16 SEER & 13 EER
Natural Gas Furnace 95% AFUE
Propane Furnace 95 % AFUE
Oil Furnace 90% AFUE
*Geothermal Heat Pump (Credit is equal to 30% of total installed cost – no $ limit)
Closed Loop 14.1 EER & 3.3 COP
Open Loop 16.2 EER & 3.6 COP
Direct Expansion 15 EER & 3.5 COP