Use Applicable HVAC Tax Credits Before They Expire At The End Of 2011

The U.S. government offers a variety of tax credits for energy-efficient HVAC equipment, appliances and other qualifying materials. If you want to take advantage of these cash savings, don’t delay. Many of these tax credits cover 2011 only and will expire at the end of the year.

The 2011 federal tax credits for consumer energy efficiency amount to 10 percent of the cost of the equipment, up to $500, or a specified amount ranging from $50 to $300. The equipment must be purchased for an existing home that is your main residence. These tax credits cannot be applied to new homes and rental units.

Natural gas, oil, or propane furnaces with an AFUE (annual fuel utilization efficiency) rating of 95 or higher are eligible for a credit up to $150.

Air-source heat pumps qualify for tax credits up to $300. Split systems with an EER (energy efficiency ratio) of 12.5 or greater and package systems with an EER of 12 or greater both quality.

Central air conditioning units also quality for up to $300 in tax credits. Split systems must have an EER of 13 or greater, while package systems must have an EER of 12 or greater. Split systems are those with an indoor and outdoor unit; package systems contain all necessary components within a single cabinet.

Gas, propane or oil hot water boilers with AFUE ratings of 95 or higher qualify for a credit of $150.

To apply for your 2011 tax credits, you must file the 2011 version of IRS Form 5695 with your 2011 federal income taxes by the IRS tax filing date of April 15, 2012. The latest version of Form 5695 will be available from the IRS in early 2012.

For help with 2011 tax credits and with finding the energy-saving equipment, insulation and other supplies that qualify, contact us at Paschal Heat, Air & Geothermal. We have been serving customers in northwest Arkansas for more than 40 years. We offer a full range of heating and air conditioning sales and service by NATE-certified technicians.

Our goal is to help educate our customers about energy and home comfort issues (specific to HVAC systems).  For more information about tax credits and other HVAC topics, download our free Home Comfort Resource guide.

Paschal Heating, Air & Geothermal services Northwest Arkansas. Visit our websiteto see our special offers and get started today!      

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