Hansberger Refrigeration Blog: Your AC Repair Resource

Get Your Tax Credits for These HVAC Upgrades

Get Your Tax Credits for These HVAC UpgradesIf the time has come to upgrade the heating or cooling system in your Yuma home, you may be able to save some money on your federal taxes when you opt for energy efficient equipment.

A trusted HVAC company is your best source of advice on the particular equipment you need and the energy efficient models that may qualify for tax credits like these:

Solar Tax Credits for 2017 and Beyond

If you have a solar-ready air conditioner or heat pump installed prior to December 31, 2021, you can qualify for a tax credit of up to nine percent of the cost. You can also get another credit on the solar module that generates the electricity your new HVAC equipment uses:

  • Through 2019, the available credit is thirty percent of the cost of the solar module installation with no upper dollar limit.
  • The amount of the credit drops to 26 percent for 2020, and 22 percent for 2021.

These credits are good for equipment installed in both newly-constructed and existing homes, as well as principal and second homes.

Tax Credits for Energy Efficient HVAC Equipment

The federal government offered tax-saving credits on high-efficiency HVAC equipment purchased and installed through December 31, 2016 as part of the American Recovery and Reinvestment Act of 2009. These credits applied to Energy Star-certified heating and cooling equipment installed in an existing principal residence. The amount of potential tax savings depended on the specific type of equipment:

  • Up to $300 for air source heat pumps, central air conditioners, packaged units and ductless mini-split systems.
  • A maximum of $150 for natural gas, oil or propane boilers and furnaces.

Although the above tax-saving credits have ended, they may be reinstated at any point in the future, so it’s worth checking with the federal government’s Energy Star program website for a current list of available credits.

If you’re considering upgrading to efficient new heating or cooling equipment for your Yuma-area home and you’d like to learn more about your options or whether there are any tax credits available, please contact us today at Hansberger Refrigeration and Electric Company.

Our goal is to help educate our customers in Yuma, Arizona about energy and home comfort issues (specific to HVAC systems). For more information, download our free Home Comfort Guide or call us at 928-723-3183. 

Credit/Copyright Attribution: “stevepb/Pixabay”