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Carrier Brochure about tax credits!
Click here to download a PDF.
Recovery.gov is the U.S. government’s official website to provide easy access to data related to the Recovery Act.
DSIRE is a comprehensive source of information on state, local, utility and federal incentives and policies that promote renewable energy and energy efficiency. Established in 1995 and funded by the U.S. Department of Energy, DSIRE is an ongoing project of the N.C. Solar Center and the Interstate Renewable Energy Council.
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How the American Recovery and Reinvestment Act Program Works for 2011
As part of an effort to reduce dependence on foreign sources of energy, the American Recovery and Reinvestment Act provides a tax credit to help offset the costs of making energy efficiency improvements to your home. Carrier is pleased to report the federal tax credit on qualifying high-efficiency HVAC equipment was modified and extended through December 31, 2011 by the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010.
Some of the American Recovery and Reinvestment Act program differs from the program effective in 2009-2010 are as follows:
- The maximum amount an eligible homeowner may receive in tax credits for “residential energy property” will be reduced from $1,500 to $500. The cap is on the total amount of credits a homeowner may claim for purchases between 2006 and 2011, not just for 2011. If a homeowner has already claimed credits of $500 or more through this allowance, they will be unable to claim new credits for improvements made during
2011.
- All furnaces and boilers, whether natural gas, propane or oil, must have an AFUE of 95 or above to be eligible for the credit.
- The credit is no longer 30% of qualified residential energy property costs (including labor), but is now equal to an amount not to exceed
Maximum Tax
Credit Available |
Product Type |
Efficiency Requirements |
| $ 50 |
Any advanced main
air circulating fan |
*See below |
| $ 150 |
Natural gas, propane,
oil furnace or boiler |
95% AFUE |
| $ 300 |
Split system air conditioner |
16 SEER / 13 EER |
| $ 300 |
Split system heat pump |
15 SEER / 12.5 EER /
8.5 HSPF |
| $ 300 |
Package air conditioner |
14 SEER / 12 EER |
| $ 300 |
Package heat pump |
14 SEER / 12 EER /
8 HSPF |
| $ 300 |
Package gas / electric |
14 SEER / 12 EER |
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| *Electricity use of no more than 2% of the total energy use of the furnace |
The Economic Advantage of Tax Credits
The reason many homeowners are so excited about the American Recovery and Reinvestment Act of 2009 program is because tax credits, unlike deductions, are subtracted directly from the total amount you owe on your personal income taxes.
For example, if you complete your tax return and calculate that you owe the IRS $2,000, a tax credit of $1,500 will reduce your tax bill to only $500. Of course, be sure to check with your tax adviser on how to best take advantage of the tax credits.
Tax Credits Available in 2011
To take advantage of the American Recovery and Reinvestment Act tax credits, you must purchase your qualifying high-efficiency comfort system between January 1, 2011 and December 31, 2011. Better yet, your savings won't be limited to a one-time tax credit. You'll continue saving every month with reduced monthly cooling and heating bills.
For more info, contact Mauder Heating and Airconditioning today at 419-698-HVAC (4822). |
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