With the reinstatement of the American Tax Relief Act signed by President Obama in early January 2013, you can save money on a new air conditioner with the 25C federal tax credits. As a strategic move in the New Fiscal Deal, congress passed a bill for approval with a wide margin of approval. The goal of the 25C Federal Tax Credits is to encourage Americans to purchase energy efficient equipment and get rewarded with monetary savings. As a result, the government is hoping to pump up spending with the American public after tightly holding on to their dollars due to the recent recession.
What You Can Save With the 25C Federal Tax Credits
Of course, there are some guidelines. To claim a tax credit, the home must be the principal abode of residence, and new equipment must meet energy efficient guidelines. Here’s a list of some of the guidelines:
- Geothermal Heat Pumps: Tax credits are available for geothermal heat pumps through December 2016. Geothermal pumps must meet Energy Star requirements. Closed-loop systems must meet or exceed COP of 3.3 and 14.1 EER. Open-loop systems must have a minimum of 3.6 COP and 16.2 EER. Direct expansion systems are required to have a minimum of 3.5 COP and 15 EER.
- Split System Central Air Conditioners: These air conditioners must meet or exceed 16 SEER and 13 EER.
- Package System Central Air Conditioners: Package system central air conditioners are required to have a minimum of 12 EER and 14 SEER.
- Air Source Heat Pumps: These types of heat pumps must meet or exceed 8.5 HSPR, 12.5 EER and 15 SEER.
- Package Heat Pump Systems: Package heat pump systems must meet or exceed 8 HSPF, 12 SEER and 12 EER.
With the current 25C federal tax credits, those eligible can claim up to $500 in tax credits. To apply for the tax credits, consumers need to fill out the form 5695 for the IRS. To date, the form has not been released, so make sure to watch the news for updates.
Bodine-Scott Air Conditioning Company in Port Aransas, TX
Since 1961, Bodine-Scott Air Conditioning Company in Port Aransas, TX been serving both commercial and residential customer in the area. Over the years, we have established a long-standing reputation for excellent customer service, fair prices and expert work. We offer year-round Internet coupons for substantial savings on new equipment, repairs and preventative maintenance plans. Be sure to print out the discounts right from our website to take advantage of the savings.
To take advance of the new tax credits for energy efficient equipment, you’ll find we offer a wide array of geothermal heat pumps, split systems, packaged systems, air conditioners and air-sourced heat pumps that meet the IRS guidelines. Be sure to give us a call for a free in-home quote, and save money today.