If you turn on your furnace and it doesn’t work, the breakdown may not be such a hardship, even though an emergency HVAC upgrade wasn’t in your plans. Some of the federal tax credits for energy-efficient HVAC equipment are in place until Dec. 31, 2011. Besides receiving the financial benefit of the tax credit, the new, qualifying equipment will help you save money throughout the life of the products, since energy-efficient HVAC systems use less energy.
In order to receive the credit from the purchase of a new heating or cooling appliance, the efficiency ratings need to meet specific criteria, depending on the type of equipment installed. For example, a package heat pump system needs to have a SEER rating of at least 14 to qualify for a $300 tax credit on purchase and installation, while a new gas or propane fueled furnace needs an efficiency (Annual Fuel Utilization Efficiency – AFUE) of at least 95 percent. This will qualify you for a $150 tax credit on purchase and installation.
If you have an eye toward saving the most energy for the long-term, even though you need an emergency HVAC upgrade in the short-term, consider a geothermal heat pump, the most energy-efficient of all the heating and cooling appliances on the market. Unlike for air-source heat pumps, furnaces, A/Cs and boilers, the tax credits for purchasing and installing the geothermal units do not expire until the end of 2016.
If your existing HVAC system just needs a new main air circulating fan, this equipment may qualify for a $50 tax credit, as long as it doesn’t use more than 2 percent of the entire cost of running the furnace.
If you’re looking at an emergency HVAC upgrade before the end of the year, contact Ace Hardware Home Servicesfor more information. Our licensed HVAC staff can help you save money through the tax credits and by installing the most energy-efficient equipment available.
Our goal is to help educate our customers about energy and home comfort issues (specific to HVAC systems). For more information about tax credits and other HVAC topics, download our free Home Comfort Resource guide.
Ace Hardware Home Services services the Ohio’s Miami Valley. Visit our website to see our special offers and get started today!
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