2011 Changes to Federal Tax Credits Available for Qualifying Residential Systems

To See The Most Recent Changes to Energy Tax Credits — Click Here

Federal tax credits on qualifying, high-efficiency HVAC & Water Heating equipment have been modified and extended through December 31, 2011 by the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010. This program differs from the program effective in 2009-2010 in the following ways:

  • The maximum amount an eligible homeowner may receive in tax credits for purchasing qualifying products, whether those purchases are in the form of upgraded insulation, windows, HVAC equipment or other eligible improvements, will be reduced from $1,500 to $500 (with a maximum per-category amount as listed in the table below).
  • The $500 cap is reduced by the total amount of residential energy property credits a homeowner has claimed for purchases between 2006 and 2010. If you have already claimed credits of $500 or more from improvements made prior to 2011, you will be unable to claim new credits for improvements made during 2011.
  • All furnaces and boilers, whether natural gas, propane or oil, must have an AFUE of 95 or above to be eligible for the credit.
  • The credit is no longer 30% of qualified residential energy property costs (including labor), but is now equal to an amount not to exceed

MAXIMUM AVAILABLE TAX CREDIT PRODUCT TYPE EFFICIENCY REQUIREMENTS
$50 Any advanced main air circulating fan Electricity use of no more than 2% of the total energy use of the furnace
$150 Natural Gas, Propane, Oil Furnace or Boiler 95% AFUE
$300 Split System Air Conditioners 16 SEER / 13 EER
$300 Split-System Heat Pumps 15 SEER / 12.5 EER / 8.5 HSPF
$300 Package Air Conditioners 14 SEER / 12 EER
$300 Package Heat Pump 14 SEER / 12 EER / 8 HSPF
$300 Package Gas / Electric 14 SEER / 12 EER
$300 Gas Water Heater EF >= 0.82 or TE >= 0.90
$300 Heat Pump Water Heater EF >= 2.0

 

 

Contact Metro Heating and Air Conditioning, Inc. for a free Long Island ac repair estimate by calling 631-667-8181 or complete our service request form.

 

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