Efficient Equipment Tax Credits: Better Use Yours Before They Run Out Dec. 31

tax credits-home energy efficiency, Middlesex County, MassachusettsOn the final day of 2013, a program providing tax credits for energy efficient furnaces, air conditioners, water heaters and other home heating and cooling equipment will end. Fortunately, there is still plenty of time to purchase a new high-efficiency device and reap the benefits of this year’s energy tax incentives.

Air Conditioning Units

Though the warm months have come to an end, there’s no reason you can’t use this year’s tax credits to prepare for next year. Central air conditioning units and heat pumps meeting the highest standards of the Consortium for Energy Efficiency (CEE) qualify for up to a $300 credit. The CEE’s seasonal energy efficiency ratio (SEER) specification, which measures performance in the cooling season, will typically be the standard considered for purposes of the tax credit. The qualifications vary based on the type of A/C system you purchase.

Furnaces and Boilers

With winter coming, a high efficiency furnace might be a more immediate concern, especially taking into consideration the premium most homes spend on heating in the coolest months. Like the incentives for air conditioning units, the furnace and boiler credits require purchased equipment to meet an industry standard for efficiency. Whether the furnace or boiler in question uses natural gas, propane, or oil, it must hold an annual fuel utilization efficiency (AFUE) rating of 95 or higher. The heating credit will cover up to $150.

Fans and Other Equipment

Whether for heat or cooling, you can receive a $50 tax credit for qualifying circulating fans. $300 is available for gas water heaters with a minimum energy factor (EF) of 0.82 and heat pump water heaters with an EF of at least 2.0.

If you have questions about the 2013 energy tax credits, or any other questions pertaining to HVAC, contact us at Victory · Heating · Air Conditioning · Plumbing. We’ve served Middlesex and Norfolk counties with quality heating and cooling services for over two decades.

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