Is your A/C unit showing the inevitable signs of age? Are you putting off buying a new one because of financial concerns? If you’re afraid your A/C may not survive to see fall, take advantage of a federal energy tax credit. It can help keep your family cool and comfortable all summer, and it will save you money next year at tax time. This tax credit expires in December 2013, so now is the time to act.
The tax credit is a part of the federal Energy Star program and offers consumers the incentive to choose more energy efficient HVAC equipment. The credit applies to homeowners installing a new unit at their existing primary residence. New homes and rentals do not apply. The credit amounts to 10 percent of the cost of the new equipment up to $500 or a specific amount from $50 to $300.
Energy efficiency ratings dictate which equipment qualifies for the credit. Central air conditioning systems must have a Seasonal Energy Efficiency Ratio (SEER) of at least 16 and an Energy Efficiency Ratio (EER) of 13 or more. The Energy Star website offers a more complete explanation of SEER and EER ratings. The tax credit will not only save you money at tax time, but your new energy-efficient equipment will begin saving you money as soon as you turn it on.
To receive the federal energy tax credit, you must file the IRS tax form 5695. Be sure to keep the receipts for your new A/C equipment as well as the Manufacturer’s Certification Statement. The best way to make sure your application will be successful is to talk to an HVAC professional who can help you with any questions you may have.
Don’t put off important HVAC service and installation. All Temp has solutions to all your air conditioning and heating concerns. Contact us today to schedule a visit or talk to one of our friendly, professional staff members about any questions you might have.