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Federal tax credit extended - though significantly reduced - 12/27/2010

The US Department of Energy has extended the federal tax credit available to homeowners on the installation of high efficient HVAC systems through the end of 2011. Though the parameters for units to qualify has remained the same, the available tax credit has been reduced significantly. 95% gas furnaces now qualify for a $150 federal tax credit; 16 SEER air conditioners and 15 SEER heat pumps now get a $300 credit. The upgrades have been capped at $500 or 10% of the cost of the installation. There also is a lifetime cap of $500 that includes any other improvements done to your home since 2005. For more information on the federal tax credit, feel free to call our office at (614) 784-9200.