Energy Efficient Appliance Upgrades Can Earn Tax Credit
Act Now for the $1,500 Tax Credit for Energy Efficient Appliances
The year is coming to a close which means time is running out for Lorain County, Ohio residents who want to cash in on Uncle Sam’s energy-efficient appliance tax credit and take that deduction on their 2009 taxes. The Federal Stimulus Tax Credit allows homeowners to receive tax credit for certain energy-efficient home improvements made between January 1, 2009 and December 31, 2010. (Credits for renewable energy sources extend through 2016.) Raymond Plumbing, Heating & Air Conditioning has created an easy to understand fact sheet about the Federal Stimulus Tax Credit for interested Lorain County homeowners. Click here and receive your free copy of Raymond’s Get the Facts.
Qualifying Energy-Efficient Equipment
Purchases that qualify for the Federal Stimulus Tax Credit include various models of heating, ventilation and air conditioning equipment in the following categories:
- Gas furnaces with an AFUE rating of 95 or higher
- Split air conditioners with efficiency ratings of 16 SEER/13 EER or higher
- Split heat pumps with efficiency ratings of 15 SEER/12.5 EER/8.5 HSPF or higher
- Packaged air conditioners with efficiency ratings of 14 SEER/12 EER or higher
- Packaged heat pumps with efficiency ratings of 14 SEER/12 EER/8 HSPF or higher
Heating, ventilation or air conditioning equipment that meets these requirements is eligible for a tax credit equal to 30% of the installed cost to a maximum tax credit of $1500. Naturally, the amount of tax credit residents may be eligible to claim will be dependant on their personal tax filing for the year the equipment is installed.
Geothermal heat pumps installed between January 1, 2009 and December 31, 2016 may also qualify for a tax credit equal to 30% of the amount paid or incurred by a homeowner. You’ll find complete information and a comprehensive list of qualifying energy-efficient equipment on Raymond’s Get the Facts sheet.