Federal Tax Credits for Consumer Energy Efficiency

The American Recovery and Reinvestment Act of 2009 (the Stimulus Bill) increased tax credits available to homeowners who make qualified energy efficient improvements to their existing primary residences. Homeowners thinking about installing new HVAC or hot water equipment should consider the benefits qualifying equipment would provide at tax time. Not only can these credits lower your tax liability, they can also reduce your energy costs by up to 40% and provide for a cleaner environment.

Homeowners who install qualified furnaces, boilers, heat pumps, central air conditioners, and hot water heaters in 2010 may qualify for a tax credit equal to 30% of the installed costs, up to $1500. A list of equipment that qualifies can be found here. Since manufacturers are always changing their product lines, check with your contractor about qualifying equipment.

Advancements in HVAC technology, energy efficiency, and performance in the last ten years means that the equipment you buy today can pay for itself in just a few years.

Details, qualifications and restrictions on tax credits can be found here.

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