HVAC TAX CREDITS

By: Patricia Cermignano

Did you know that select HVAC units may be eligible for a tax credit? The Federal Tax Credits have been re-instated for any qualifying equipment that was installed between January 1, 2015 and December 31, 2016. The chart below details out what product types are eligible at specific efficiency levels.

Product Type

Tax Credit

Minimum Efficiency Requirements

Furnaces & Boilers

$150

  • Natural gas, propane or oil with an AFUE of not less than 95%

AC & Heat Pump

        $300

  • Split system central air conditioners that achieve 16 SEER and 13 EER
  • Split system electric heat pumps that achieve 15 SEER, 12.5 EER and 8.5 HSPF
  • Packaged central air conditioners that achieve 14 SEER and 12 EER
  • Packaged electric heat pumps that achieve 14 SEER, 12.0 EER and 8.0 HSPF

Advanced Main Air Circulating Fan

$50

  • A fan used in a natural gas, propane or oil furnace with an annual electricity use of no more than 2 percent of the total energy use of the furnace

 

 

 

 

 

 

 

 

 

 

 

 

 

SOURCE: BRYANT PRODUCT BULLETIN (01/16/16) “HVAC Tax Credits Extended for 2016”

The Tax Increase Prevention Act of 2015 extended the §25C tax credit for highly efficient HVAC equipment that initially expired at the end of 2014. It is important to note, however, that under the §25C tax credit, tax payers are only able to claim a maximum of $500 for qualifying equipment installed between 2011 and 2014. Before applying for a tax credit, we highly recommend that you speak to your Accountant or Tax Preparer to confirm your eligibility and for professional advice on how to apply for the credit. To view tax credit certificates for qualifying Bryant products, please visit www.myBryantRatings.com.

Bob Cermignano Air Conditioning & Heating, Inc. believes in the importance of upgrading your HVAC equipment to higher efficiency units and encourages all homeowners that believe they are eligible for the HVAC tax credit to speak with their Accountant or Tax Preparer for more details.