2009-2010 Energy Tax Credit
The 2009-2010 Energy Tax Credit and You
With the passage of President Obama’s Economic Stimulus Bill, homeowners may be eligible for a tax credit if they purchase certain types of heating, ventilation and air conditioning (HVAC) systems, or make other energy-related improvements to their homes between January 1, 2009 and December 31, 2010.
Depending on the type of AC system or product purchased, it is possible to qualify for a tax credit of up to $1,500* on your 2009 or 2010 income tax return. For qualified improvements, homeowners may be able to claim tax credits equal to 30 percent of the installed costs (up to $1,500). The new tax credits are retroactive to January 1, 2009 and expire on December 31, 2010. The $1,500 limit is for all improvements made during the two-year term, rather than $1,500 each year. The tax credit is only valid for taxpayers that own their home and it is used as the principal residence.
McClintock Heating and Cooling is committed to providing your family with an air conditioning system that is tailored to your specific needs. Some – but not all – of our systems may qualify for the tax credit. We have included a summary of the bill as it applies to residential HVAC equipment:
- Split system air conditioning efficiency requirements – 16 SEER/13 EER (energy efficiency rating) - both efficiency levels must be met to qualify for the tax credit.
- Split system heat pump efficiency requirements – 15 SEER/12.5 EER/8.5 HSPF (Heating Seasonal Performance Factor) - all three efficiency levels must be met to qualify for the tax credit.
- Packaged A/C, H/P, or dual fuel products – 14 SEER, 12 EER, 8 HSPF.
Please contact us a 704.321.5207 for additional information
* To fully understand how the new tax credit may apply to you and what you can do to obtain one, you should consult with a tax professional for advice on tax preparation, as this tax credit is subject to IRS regulations.