 On February 17, 2009, President Obama signed a stimulus bill (the American Recovery and Reinvestment Act of 2009) that made some significant changes to energy efficiency tax credits.
That legislation has been extended for this year, with some changes to the maximum amounts that you can claim, and increases to qualifying efficiency ratings for boilers and oil furnaces. Please consult your certified tax advisor to ensure that you will qualify for this tax credit.
Some 2011 program specifics:
General Provision:
- 10% of installed cost, up to $500
Central A/C:
- 10% of installed cost, $300 max.
- Split Systems: 16 SEER & 13 EER
- Package Systems: 14 SEER & 12 EER
Furnaces:
- 10% of installed cost, $150 max.
- Gas Furnace: 95 AFUE
- Oil Furnace: 95 AFUE
- Boilers: 95 AFUE
Efficient Indoor Fan:
Heat Pump:
- 10% of installed cost, $300 max.
- Splits: 15 SEER, 12.5 EER, 8.5 HSPF
- Packaged: 14 SEER, 12 EER, 8 HSPF
To qualify, qualified systems must be:
- Provided for and placed in the taxpayer’s principal residence
- “Placed in service” between 1/1/09 and 12/31/10
- Rated as meeting or exceeding certain benchmark efficiencies
- Accompanied by a Manufacturer Certification Statement
While the money you can save with these tax credits is amazing, you will also save thousands of dollars more on energy costs over the life of your new, high-efficiency equipment.
And you will also save thousands of dollars more on energy costs over the life of your new, high-efficiency equipment.
Magic Touch will be happy to guide you toward new equipment that qualifies you for federal energy tax credits.
To take advantage of these tax credits, you must have your equipment bought and installes before 12/31/11 – don’t delay, contact us today!
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