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Heating & Air Conditioning

New Energy Tax Credit

15 years ago

Just read that in the new "Stimulas" Package, up to $1500 tax credit will be given to home owners to upgrage their heating and cooling system to high efficient systems. For the experts out there what defines high efficient. The system I have now is a "Packaged" AC / Gas heat system over 20 years old. I have been having a lot a problems the last couple of years so it seems now would be a good time to upgrade. I live in the south and have about 2000 ft2 to heat and cool and the system is duct. Anybody have any good suggestions so that I meet these new high efficiency standards???

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Comments (5)

davidandkasie
15 years ago
it will depend on what they list. i have not seen the new one, but the old energy credits required the equipment meet certain criteria.
energy_rater_la
15 years ago
you'll have to check it out but I think that for high
seer a/c (15..or was it 17seer) you get a tax credit
gas furnace has to be 95% or better.
just what I read several days ago..can't find the link.
heatpumps were 8.5 hspf?
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I am also building a new home and the only tax credit that I am aware of (short of turbine power) is the 30% credit for geothermal installation. My electric Co-Op also offers $750.00 a ton credit for geothermal so you might want to check with your utility company to see if they have any rebates. The credits on geothermal make it cost effective for my installation but I wish there was a credit for foam insulation 'cause I have a hard time justifying that cost. Here is a link that might be useful: Energy Star
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The word so far is no, the bill didn't make it through Congress. Apparently not enough folks are letting their Congressmen know that this is a desirable program! Check for possible rebates through state programs (those vary -considerably- from state to state). Don't forget to check with each manufacturer for credits, discounts, or rebates. Here is a link that might be useful: 2008 energy star credits
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We received several rebates which were paid out upon request. I think they included hot water heater, appliances, a couple from the utility and cooperatives. Chad, even hate to mention this since your geothermal sounds so much less than ours. Ours was $42,000, with almost $13,000 in tax credt ... which we can't claim until next year. We also got $1000 on the dual fuel heat pump from the energy cooperative. Our geothermal cost included 5 ton vertical loop system (five- 200 foot shafts), heat pump, back up furnace, programmable thermostats, radiant floor heating (I think 6 zones), humidifier, hot water heater, air filter, all ducting, labor etc, etc. Without looking at the bid, I can't remember all it included. I guess it's hard to compare if you're not comparing apples to apples. I'm estimating out total rebate/tax credits were between $17,000 and $20,000. Our builder and several of the subs were the ones who told us about the rebates we weren't aware of. They even gave us the forms.
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Well gosh, I was going about it the wrong way. I went to the IRS--should have known better than that :) Here's from the energy star site--something a little more optimistic: "On February 27, 2008, the House passed $18.1 billion in renewable energy tax incentives (H.R. 5351), including an extension of the tax credit for energy-efficient home improvements. The bill is similar to the one passed last year, which was ultimately removed from the 2007 Energy Bill, signed into law in December 2007. This bill must still pass in the Senate, and be signed by the President to become law." Here is a link that might be useful: to track it
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dadoes
15 years ago
My neighbor is waiting to get a ground source geothermal heat pump installed (whenever the contractor gets around to it). He mentioned this evening that the credit cap was eliminated so he'll qualify for a 30% credit instead of $1,500 maximum.
danw13
15 years ago
The Tax credit is 30% up to a maximum of $1500 for new or upgraded H/C equipment. The real question is this if it will read for each piece of equipment or a total for the tax year regardless if you have one or both pieces of equipment replaced/upgraded ? Its in the Stimulas bill somewhere around page 435 - 600, the furnace needs to be a minimum of 95% or 96% AFUE and AC/HP need to have a minimum Seer of 14 and a eer of 141/2 or 15 with a HSPF of 8.5 or greater which basically means your going to have to have the highest effcient equipment installed to meet the quailifcation.
mjkast
Original Author
15 years ago
Thanks danw13,
However, I'm not sure there are any "packaged" systems that meet all the requirements you list, unless I go to some type of split system or Electric HP. Then I am looking at siginificant installation issues and cost. The family prefers gas.

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