Tax Credit
The American Recovery and Reinvestment Act
Stimulus Package*
President Obama signed into law the “American Recovery and Reinvestment Act” which gives tax credits to homeowners that purchase qualifying High Efficiency Heating and or Air Conditioning Equipment for their homes.
You can receive up to a $1,500 tax credit by replacing your heating system or air conditioning system with a qualifying system. The credit is calculated on the total installation cost, not just the equipment cost.
You are eligible for 30% of the total installation cost up to the $1,500 limit. Any qualifying Heat Pump, Furnace and or Air Conditioning System (See below table for qualifying equipment) of $5,000 or higher would qualify for the full amount.
Example: Heater & A/C Installed Price = $7200 (With Qualifying Equipment)
Less Tax Credit $1,500
Net Cost $5,700 (After Tax Credit Applied To 2009 Tax Return)
Geothermal Systems
Considering installing a Geothermal System? (See table for qualifying equipment) you can receive a tax credit of up to 30% of the installation cost with no limit
Example: Geothermal Installed Price = $24,000
Less Tax Credit $ 7200.
Net Cost $16,800 (After Tax Credit Applied
ADDED BONUS! Higher Efficiency Systems will save up to 50% on your monthly utility bills, keep you more comfortable, and you will also be helping the environment, by using less fuel to heat and cool your home.
Call 800-659-2273 for a FREE in home evaluation and estimate
* We advise speaking with a tax professional to confirm eligibility
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Qualifying Equipment for Tax Credits (Credits Limited to 30% of Installed Cost (up to $1,500) in tax years 2009 and 2010) |
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Equipment |
Minimum Energy Efficiency Standard to Qualify |
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Electric Air Source Heat Pumps |
Split Heat Pumps |
Package Heat Pumps |
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15 SEER |
14 SEER |
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12.5 EER |
12 EER |
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8.5 HSPF |
8 HSPF |
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Central Air Conditioning |
Split Systems |
Package Systems |
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16 SEER |
14 SEER |
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13 EER |
12 EER |
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Geothermal Heat Pump (30% of total installation eligible, no dollar cap) |
Closed Loop |
Open Loop |
Direct Expansion |
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14.1 EER |
16.2 EER |
15 EER |
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3.3 COP |
3.6 COP |
3.5 COP |
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Natural Gas Furnace |
95% AFUE |
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Natural Gas Hot Water Boiler |
90% AFUE |
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Propane Gas Furnace |
95% AFUE |
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Propane Hot Water Boiler |
90% AFUE |
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Oil Furnace |
90% AFUE |
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Oil Hot Water Boiler |
90% AFUE |
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Gas, Oil, or Propane Water Heaters |
.82 Energy Factor |
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90% Thermal Efficiency |
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Electric Heat Pump Hot Water Heater |
2.0 Energy Factor |
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Wood Stoves |
75% Thermal Efficiency as measured using a lower heating value. |
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Advanced Main Air Circulating Fan (ECMs) |
No more than 2% of furnace total energy use |
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