In 2011, a set of tax credits expired for newly installed, energy-efficient air conditioners, furnaces, and heat pumps. Although many St. Louis area homeowners took advantage of these tax credits, many others were disappointed to have missed out when the credits expired. But we have great news! Federal tax credits for energy-efficient HVAC units were extended until the end of 2013, making this a great time to invest in a new heating and cooling system!
Who is eligible for the extended energy tax credits?
The 2013 energy tax credits are available to homeowners who are installing a new HVAC system in their primary residence. The credits are not available to newly constructed or rental homes.
One of the best parts of the tax credit extension is that it is retroactive. That means that even if you installed a new HVAC system in 2012 (when the original credits had expired), you can still qualify to receive the extended credits.
What requirements must an HVAC system meet to qualify for the tax credits?
Along with the eligibility requirements we discussed above, the EPA’s efficiency requirements for the tax credits are as follows:
- Air conditioners: Newly installed air conditioners must have a SEER rating of at least 16 and an EER rating of at least 13. The credit is for $300.
- Furnaces: Newly installed furnaces must have an AFUE rating of at least 95. The credit is for $150.
- Air source heat pumps: Newly installed air-source heat pumps must have an HSPF rating of at least 8.5, an EER rating of at least 12.5 and a SEER rating of at least 15. The credit is for $300.
If you have any questions about the extension for federal energy tax credits, or if you’d like a cooling system serviced or installed in your home, contact Jerry Kelly Heating & Air Conditioning, your St. Louis air conditioning and heating company. We service the St. Louis area and surrounding towns like Ballwin, Weldon Spring, and Maryland Heights.
photo credit: 401(K) 2013 via photopin cc