What You Need to Know About 2015 – 2016 HVAC Federal Tax Credits
What is the cost? We realize that occasionally – well more often than not – the choice of whether to replace or repair your home’s heating and cooling (HVAC) system falls under this question.
Regardless of how incredible the publicized ad is or how the company guarantees their services, if it’s excessively expensive, you’re not purchasing it. Also, we get that. We’re mortgage holders as well, all things considered, we experience the same buying apprehension when considering significant improvements to our homes.
What’s more, to settle on the best purchasing choice for your family, you have to know the amount you might spend, as well as the amount you might save. What’s more, to that end, beneath are the 2015 – 2016 Federal HVAC Tax Credits on heating, ventilating, and AC systems. The information below may be helpful when considering on your next HVAC purchase:
Central Air Conditioning | $300.00
This tax credit applies to new split air conditioning systems with a SEER (Seasonal Energy Efficiency Ratio) of 16 or higher and EER (Energy Efficiency Ratio) split systems of 13 or higher. It also applies to new package systems with SEER ratings of 14 and up, as well as EER ratings of 12 and up.
To check your system’s eligibility, Cool Connections is always happy to provide the Manufacturer Certification Statement for the equipment you plan to purchase, or you could also search the manufacturer’s website.
Gas, Propane, or Oil Hot Water Boiler | $150.00
This tax credit, which includes installation costs, applies to new heating units that use water circulated throughout the home in a system of baseboard heating units, radiators, and/or in-floor radiant tubing. To be eligible, the unit must meet an AFUE rating of 95 or higher.
Heat Pumps | $150.00
Heat pumps, which in simplest terms use electricity to move heat from a cool space into a warm space, can be great alternatives to furnaces and air conditioners. In the spring and summer months, heat pumps move the heat from inside your cool house to the warm outdoors. And in the fall and winter months, the reverse is true—moving heat from the cool outdoors into your warm house.
To be eligible, new split systems must reach SEER ratings of 15 or higher, EER ratings of 12.5 or higher, and HSPF (Heating Seasonal Performance Factor) ratings of 8.5 or higher. And new package systems must reach SEER ratings of 14 or higher, EER ratings of 12 or higher, and HSPF ratings of 8 or higher.
Advanced Main Air Circulating Fan | $50.00
To be eligible, these fans or blower motors—which efficiently push warm air from your furnace through your duct system—must use no more than two percent of the furnace’s total energy.
If you have any questions about your system and its tax credit eligibility, please don’t hesitate to contact us online or by phone at (904) 908-5252.