Put money in your pocket with Home Improvement Tax Credits!
You can afford to be comfortable with an energy-efficient AC system!
According to 2011 Federal Tax Credits for Consumer Energy Efficiency, you may save a lot of money by upgrading to more energy-efficient heating, ventilation and air conditioning (HVAC) equipment!
This will save you money on your energy bills now and also save you money on your taxes next year ($300 Tax Credit - find out how to apply). You could save a total of up to $2,230 on the installed cost of residential HVAC products installed through December 31, 2011.
We offer Free Estimates and Free 2nd Opinions. Call us today at (941) 758-2323 to set up your appointment!
FPL customers will receive rebates of up to $1930! Calculate your rebate with FPL's Annual Cooling Cost Calculator.
What improvements qualify?
Qualifying improvements include energy-saving heating & cooling equipment, indoor air quality components, boilers, water heaters, windows, doors, skylights, roofing, insulation and solar devices. The qualifying standard for central air conditioners and heat pumps, which were modified by the Stimulus bill in 2009, are not changed. Therefore, a central air conditioner must meet or exceed 16 SEER and 13 EER; and 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. Energy-efficiency limits for improvements are detailed below.
| Equipment |
Current Requirement |
| Equipment |
Current Requirement |
| Package Heat Pump |
14 SEER |
What documentation will you need?
For products "placed in service" in 2011, you need to file the 2011 IRS Form 5695 and submit it with your 2011 taxes (by April 15, 2012). On the 1040 form the residential energy tax credit is claimed on line 52.
Be sure to save your receipts and the Manufacturer's Certification Statement for your records. Submit Form 5695 with your taxes. It is strongly recommended that you consult with a qualified CPA and keep all records and receipts of purchases.
Are there any limitations?
The tax credit is only available on the taxpayer's primary residence and can only be claimed on their personal income taxes.
Sources:
The Consortium for Energy Efficiency (CEE), a nonprofit public benefits corporation, develops initiatives for its North American members to promote the manufacture and purchase of energy-efficient products and services.
ENERGY STAR is a joint program of the U.S. Environmental Protection Agency and the U.S. Department of Energy helping us all save money and protect the environment through energy efficient products and practices.
Questions? Give us a call at (941) 758-2323.
