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Federal Tax Credit 25C for Energy Efficient HVAC is Back in Hilton Head
When it comes to taxes, any credit you can take means that less of your hard-earned money goes to the Internal Revenue Service (IRS). It was a great disappointment to those of us in the HVAC industry to see the Federal Tax Credit 25C end on December 31, 2011. This credit provided tax relief to home and business owners who installed highly energy efficient heating and cooling equipment. However, President Obama reinstated the Federal Tax Credit 25C in January of 2013. The extension makes all qualified purchases in 2012 eligible for the credit. It also extends the deadline to claim the Federal Tax Credit 25C to December 31, 2013.
Air Repair, Inc. is a professional HVAC company located in Hilton Head, SC. If you are considering replacing an inefficient heating or cooling system, now is the perfect time to do it. We stock new equipment from Carrier and several of the other leading manufacturers. An installation technician from our company would be happy to help you evaluate your needs and recommend a system that can save you money.
How to Claim the Federal Tax Credit 25C in Hilton Head, SC
To receive a tax credit for 2012 or 2013, you must have installed or planned to install the following type of equipment:
- Two different types of water heaters are eligible for a $300 tax credit. Your equipment must use an electric heat pump and have an energy factor above 2.0 or use oil, propane or natural gas and have a thermal efficiency rating greater than 90 percent.
- Packaged and split system air conditioners and heat pumps are eligible for a $300 rebate. Packaged systems must have a Seasonal Energy Efficiency Ratio (SEER) of 16 or higher for air conditioners and a Heat Seasonal Performance Factor (HSPF) of 8.5 or higher for heat pumps. Split systems require a SEER of 14 or higher and a HSPF greater than 8.
- Furnaces and boilers that use natural gas, oil or propane and have an Annual Fuel Utilization Efficiency (AFUE) above 95 percent are eligible for a $150 tax credit.
- A $50 tax credit is available for advanced main circulating fans that are used in conjunction with a furnace. The furnace must use oil, natural gas or propane and the fan can’t make up more than two percent of its total energy use.
Understanding Minimum Energy Efficiency Ratings
The minimum energy efficiency ratings needed to take the tax credit were the highest available in 2009, the first year the credit was implemented. Carrier now makes HVAC equipment with SEER ratings in the 20s and a HSPF as high as 10. We have even seen some gas furnaces with an AFUE of 98 percent. Energy efficiency ratings are an important consideration over the lifetime of your equipment. By investing in a high efficiency heating and cooling systems today, you save on utility bills and repair costs for years to come. Air Repair, Inc. encourages you to take your research seriously before making a final purchasing decision. Call us with your HVAC questions anytime.
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