


Special Offers and Tax Credits
$99.95
Value
-$30.00 Savings
$69.95 Your Price
Service Agreements - 2 Clean and Checks/year + 10% off parts
$139.90
Value
-$ 20.90 Savings
$119.00 Your Price
Tax Credits for Efficient Systems
The Energy Improvement and Extension Act of 2008
An exciting new tax credit is now available for home and commercial building owners who install geothermal heating and cooling systems through the Energy Improvement and Extension Act of 2008 (H.R. 1424). H.R. 1424 offers a one time tax credit of 30% of the total investment for homeowners who install residential ground loop or ground water geothermal heat pumps.. A credit of 10% of the total investment is also available (no maximum) for a commercial system installation.To qualify, the systems must meet or exceed EnergyStar requirements and be installed after December 31, 2007. While units installed in 2008 are subject to a $2,000 cap on the credit, units installed from 2009 through 2016 can take advantage of the full credit. Owners can file for the credit by completing the Renewable Energy Credits subsection on their tax return forms for 2008. For taxpayers that are subject to the Alternative Minimum Tax, they can claim the credit on their taxes for the following year. No proof of purchase will be required; however, in case of an audit, owners are encouraged to keep a detailed invoice of their purchase on file. The contractor who sold and installed the product should list the purchase as a "Geothermal Heat Pump" on the invoice and that it "Exceeds requirements of Energy Star program currently in effect".
The tax credit is available through December 31, 2016. Consult your local tax professional for advice on taking advantage of the tax credit, as this announcement is not intended as a recommendation or endorsement of any financial strategy.
Helpful Resources
- Excerpt from the Energy Improvement and Extension Act
pertaining to geothermal.
-
IRS Form 5695*:
Residential Energy Efficient Property Credit
- More Information about the
"Residential Renewable Energy Tax Credit"
- Find additional tax incentives that may be available in your state -
www.dsireusa.org
Conventional Air Source Systems
The American Recovery and Reinvestment Act of 2009
On Feb 17, 2009, President Obama signed a stimulus bill that included HVAC tax credit incentives. Congress set the maximum tax credit amount at $1500 to help stimulate energy conservation through the installation of high efficiency heating and cooling systems. A summary of the bill as it applies to residential HVAC equipment follows:
• Split system air conditioning efficiency
requirements - 16 SEER/13 EER
(both efficiency levels must be met to qualify for the tax
credit)
• Split system heat pump efficiency
requirements - 15 SEER/12.5 EER/ 8.5 HSPF
(all three efficiency levels must be met to qualify for the
tax credit)
• Gas furnace qualifying levels - 95% AFUE
• Packaged A/C, H/P or duel fuel products - 14
SEER/ 12 EER/ 8 HSPF
(all three efficiency levels must be met to qualify for the
tax credit)
• Maximum tax credit amount - $1500. The legislation specifies 30% of the cost of qualifying equipment, including installation costs, subject to a $1500 maximum per homeowner.
• The tax credit is effective for all qualified systems installed from 1/1/2009 through 12/31/2010.
• The tax credit is only valid for a home that is owned by the taxpayer and used as the principle residence.