HVAC systems manufactured today far exceed the energy efficiency of units manufactured just a few decades ago. Furthermore, modern HVAC systems provide better home comfort, better indoor air quality, and they can save a substantial amount of energy dollars. Also, local utility Dayton Power and Light is offering HVAC rebates, and the Energy Star program explains IRS tax credits for additional savings and incentive.
Furnaces
High-efficiency furnaces using natural gas, propane, or oil with a minimum 95 AFUE can bring in a federal tax credit savings of $150 and an additional $50 if the furnace is equipped with a high-efficiency blower motor.
Central Air Conditioning
Qualifying purchases of package and split-system central air conditioners are eligible for a $300 federal tax credit. The efficiency requirements are as follows: SEER 16 or higher and EER 13 or higher for a split system, and SEER 14 or higher and EER 12 or higher for a package system.
Air-Source Heat Pumps
Qualifying purchases of package and split-system air-source heat pumps are eligible for a $300 federal tax credit. The efficiency requirements for a split system are HSPF 8.5 or higher, SEER 15 or higher, and EER 12.5 or higher.
Geothermal Heat Pumps
Qualifying purchases of geothermal heat pumps are eligible for rebate and/or tax credit incentives up to $1,000. Considering geothermal heat pumps earn great efficiency by using the heat energy in the earth or water to heat and cool your home, any rebate and tax credit is gravy.
Water Heaters
Water heaters are available in electric heat pump water heaters or water heaters that use natural gas, propane, or oil to heat water. Both types of water heaters qualify for a $300 federal tax credit.
How to Apply
If you’re interested in more savings via HVAC rebates and tax credits, you need to act fast! Some rebate and tax credit programs are scheduled to end on Dec. 31, 2021. The HVAC rebates listed are available through Dayton Power and Light. Use IRS instructions and form 5695 for the federal tax credits.
If you need assistance with HVAC rebates and upgrades in Dayton, contact Ace Hardware Home Services.
