Air Conditioning and Heating Tax Credits Available in 2013
To give credit where credit is due; portions of this post are excerpts from the (ACCA) Air Conditioning Contractors of America’s website. For more helpful consumer information about heating, air conditioning and ventilation, or to find a reliable contractor outside of Arizona, you can visit the ACCA website.
2013 HVAC Tax Credits
Did you know Uncle Sam will give you a tax break on home improvements that lower your energy costs, increase your home’s value, and make you more comfortable all at the same time? It also doesn’t hurt knowing that you can get paid to help the environment either right?
Helping Arizona homeowners take advantage of all the above is what Magic Touch does and we want to help you next!
Updated Tax Incentives for Homeowners
Congress passed a bill giving tax incentives to tax paying homeowners (basically all of us!) who install qualifying energy efficient retrofits in their home, including high efficiency heating, ventilation, and air conditioning (HVAC) equipment in their primary residences. Bottom line; you may claim up to $500 in tax credits, depending on the type of equipment you have installed.
You may be able to qualify for tax credits of up to 10% of your costs ($300 limit) when you have a high efficiency central air conditioner, heat pump, or hot water heater installed in your home. As well as tax credits of up to 10% of the costs ($150 limit) on qualifying furnaces, and an additional tax credit of up to10% of the cost ($50 limit) for installing a heating and cooling system with an high-tech, variable speed fan.
What systems qualify?
Magic Touch’s certified consultants are well versed in finding you the right equipment that qualifies for the tax credits and we offer free in-home consultations to help you find the right product for your home, but here’s the general criteria equipment must meet or exceed:
A split system central air conditioner must meet or exceed 16 SEER and 13 EER; package system central air conditioners must meet or exceed 14 SEER and 12 EER.
An air source heat pump must meet or exceed 15 SEER and 12.5 EER and 8.5 HSPF, in order to qualify for the tax credit. Package heat pump systems must meet or exceed 14 SEER and 12 SEER and 8 HSPF.
Natural gas furnaces must meet or exceed 95% AFUE.
For the variable speed fan credit, the fan must use no more than 2% of the furnace’s total energy.
Need more reason?
As if $500 in tax credits wasn’t enough, here’s what the Air Conditioning Contractors of America (ACCA) has to say about the advantages of replacing inefficient older equipment:
“Advances in technology over the last ten years mean that today’s higher efficiency HVAC equipment uses less energy, runs more quietly, and provides improved indoor air quality and comfort. And by using less energy and improved refrigerants, your new HVAC equipment is better for the environment.
Most homeowners would like to reduce their energy bills with higher efficiency HVAC equipment, and these tax credit help make the initial investment more affordable.”
The fine print!: Every taxpayer’s situation is different. We cannot make any guarantees as to your individual eligibility for the tax credits. What we can help you figure out is what equipment qualifies and how it can work for your comfort, health, and budget.
If you would like to set up an appointment with one of our knowledgeable consultants on this subject, call our office at 480-855-8789. Please make sure to follow us on Facebook for even more great info and energy saving advice!