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Federal Tax Credit

On December 17, 2010, President Obama signed the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010. This law extends the tax credits for energy efficiency into 2011, BUT at lower levels. The levels revert back to those in effect in 2006 and 2007, which were 10% of the cost of the improvement, up to $500.

Residential Tax Credit Details

For qualified improvements, homeowners may be able to claim tax credits equal to 30% of the installed costs (up to $500).
•    Furnace to qualify 95% AFUE
•    Boiler to qualify 90% AFUE
•    A/C to qualify 16 SEER + 13 EER
•    Heat Pump same as A/C plus HSPF 9
•    Water Heater energy factor .8 (tankless)

Please ask us to explain the details on qualifying equipment.

Other Facts about the Federal Tax Credit

•    The new tax credits starting in 2011 are good for up to $500 with a qualifying system of both furnace and air conditioning.
•    Expanded Geothermal Tax Credits – Homeowners who install geothermal heat pump systems may be able to claim up to 30% of the installed costs in tax credits in the year the system is placed into service. The $2,000 tax credit limit has been removed. The geothermal tax credit has a longer term, from January 1, 2009 and expires December 31, 2016.
•    Consumers should be aware that the $500 limit applies to many types of energy efficient home improvements, including windows and doors, roofing shingles, and insulation.