You may have already heard about the substantial federal tax credits available for energy-efficient purchases, but take note that you have an expiration date for purchasing the qualifying products.
The current energy tax credits being offered were established by the American Taxpayer Relief Act of 2012. Congress extended these benefits, commonly referred to as 25C tax credits, through 2013. You must have purchased your high-efficiency HVAC systems and related home energy products by December 31, 2013.
The December 31 cutoff specifically applies to:
- Heating, Ventilating, and Air Conditioning systems
- Efficient insulation
- Non-solar water heaters
- Biomass stoves
- Metal and asphalt roofs
- Energy Star-qualified windows and doors
Select other tax credits such as solar energy systems and residential wind turbines are part of separate energy tax credits with later expiration dates.
Purchase energy-efficient models of these HVAC systems in the 2013 calendar year to enjoy tax benefits:
- Central A/C
- Ductless A/C (split-system)
- Hot water boilers
- Heat pumps
- Advanced main air circulating fans
Federal 25C credits can be applied to your owed taxes in an amount up to $500, representing 10 percent of the cost. Each type of unit must meet certain specification to qualify. Central A/C package systems must have SEER ratings of at least 14 and EER of at least 12. Ductless systems must be at least SEER 16 and EER 13.
There’s still time to take advantage of federal energy tax credits, but don’t wait until the last minute. We can help you decide which system works best for your home and will qualify for the incentives. Also check our A/C service specials for deals on installations.
To find out how to save money on your HVAC systems including through energy tax credits, give us a call at Gulf Coast Air Systems, Inc. We proudly serve Brandon, Riverview, Valrico, Lithia, Plant City, and the Sun City Center areas.