If you’re in the market for a new HVAC system (heat pump, air conditioner or gas furnace) or have recently purchased one, you may be pleased to learn that many new energy efficient systems carry with them tax credits and rebates that can help you save money, even after your purchase. Arranged at a federal or state level, these incentives are in place to encourage homeowners to make better choices regarding energy use. By choosing energy efficient equipment, it’s a win-win situation—not only will you reduce your consumption, but you’ll save money too. Despite the appeal of receiving such credits, however, many people are still unaware of their existence and as such, aren’t being rewarding for making environmentally friendly choices.
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If you are interested in finding an HVAC system that will earn you a rebate or tax credit, or you simply want to check if your existing HVAC system qualifies for a tax exemption, these resources will help provide you with all the information you need to know.
1. Database of State Incentives for Renewables & Efficiency
As the leading resource for credit and rebate information at a state level, the DSIRE provides homeowners with all the details needed for checking and applying for tax credits. After simply selecting your state, you’ll be provided with a list of policies and incentives that can be filtered by the date they were issued, category and incentive type. Once you select a specific policy, all the details and technicalities are available at your fingertips, including a breakdown of your potential savings in dollars, should you qualify. Links to external websites and contact information are also provided if you need further clarification, though, like its name suggests, the DSIRE is a comprehensive database with a wealth of information and likely has everything you’re looking for.
2. Networx Estimate with Direct Tax Credit
Like the Database of State Incentive for Renewables & Efficiency, Energy.gov is a government website in place to provide Americans with all the information they need about renewable energy and the tax credits and savings to support the conservation of energy and reduction of pollution. Under the savings section of the website, users will find state and federal rebate and tax exemption information. With its simple interface, users can easily filter their results by eligibility and category type, in this case, searching for keywords, like air conditioners and furnaces, to find credits related to the use of energy efficient HVAC systems. Once you find your credit, you’re provided with a detailed and informative summary, as well as external links to your state’s website for further information.
4. Energy Star
Created in 1992 by the Environmental Protection Agency (EPA), Energy Star is the standard for energy efficient products produced in the U.S., including heating and cooling systems. Not only can using HVAC systems that carry the Energy Star symbol lower your electricity bills, they’re actually at least 10% more energy efficient than the minimum U.S. government standards. By visiting their site, you’ll find all current federal income tax credits for use of their energy efficiency-approved system, along with important information, like the dollar amount or percentage of the credit, the credit’s expiry date and how to apply.
5. Internal Revenue Service
In response to the Great Recession of the late 2000s, the American Recovery and Reinvestment Act was signed into law in 2009 in an attempt to provide relief to those most affected by the recession. Included in the act were a number of tax credits and incentives for individuals and companies, including energy efficient property credits aimed at those who were looking to upgrade and install energy efficient heating and cooling systems in their home. This subset of the IRS site has a detailed list of these incentives, along with external links for frequently asked questions to ensure those who qualify for the credit have all the information they need to apply.
6. Official Brand Site
If you’re interested in a specific brand of heat and cooling system, the official brand site will be the most direct source of federal tax credit information. For instance, Rheem’s official website contains everything owners need to know about current and retroactive tax credits and how to apply for them. Even if owners don’t qualify for a rebate at the federal level, the site also includes a link to the Homeowner Resource Center with potential rebates at state and local levels. Whatever brand of HVAC system you’re interested in, visit their official site for more information.
If you’re unsure about whether your energy efficient HVAC system qualifies for a residential or commercial tax credit or rebate, visiting one of these sites can help you determine just that. By simply filtering your search by state and incentive type, you’ll quickly find the important details required for applying for a tax rebate in order to enjoy the savings of using an HVAC system that conserves energy and reduces pollution.