Consumer Tax Incentives
Home Heating & Cooling Equipment
What are the incentives for home heating & cooling equipment?
Purchasers of ENERGY STAR rated residential HVAC systems heating, and cooling equipment may qualify for tax credits of up to $300 for purchasing qualifying equipment, as detailed below. These credits are also retroactive for 2015 (New Construction and Rental Properties do not qualify).
What types of equipment qualify and for how much?
- Natural Gas, Propane or Oil Furnaces that are 95% AFUE or greater: $150.00
(Plus, another $50.00 for a high efficiency main air circulating fan).
- Natural Gas, Propane or Oil Boilers (Water only, NO STEAM) that are 95% AFUE or greater: $150.00
- Split System Central Air Conditioners that are 16.0 SEER / 13.0 EER or greater: $300.00
- Split System (Air Source) (Ducted & Ductless) Heat Pumps that are 15.0 SEER / 12.5 EER / 8.5 HSPF or greater: $300.00
Where must the equipment be used?
Under guidance issued by the IRS, equipment is eligible if installed in a home occupied by a taxpayer as their principal residence at the time the equipment is installed. This implies that equipment in new homes is generally not eligible since in new homes equipment is generally installed prior to occupancy.